The project will include commercial and retail space on the ground floor of the burgeoning retail strip, and 35 luxury apartments on the upper foue floors.
Hallmarc director Michael Loccisano said the purchase of the Fitzroy site was a significant inclusion to Hallmarc’s rapidly expanding portfolio and was inline with the Group’s strategic development plan.
“With a serious lack of new apartment stock clearly evident in Fitzroy, this project will provide both owner occupiers and investors a quality opportunity.”
Hallmarc has more than $300 million worth of residential, commercial and industrial projects flagged for construction in Melbourne. It’s biggest commercial property developments include the Hallmarc Business Park in Lorimer Street Southbank and an office park in Ricketts Road Mount Waverley.
Hallmarc will start construction of the Fitzroy site next month, with completion of the site expected by mid-2008.