This would suggest more than half the units have sold.
FKP spokesman Brett Zarb said clearing of buildings on the site that will become Aerial started this week.
The property was known throughout the planning process as “the former Henley Honda site” but was more recently used by Mercedes Benz as a dealership.
Aerial will include two apartment towers, rising 14 and nine levels, atop ground floor retail. The tallest building will soar at the apex of the busy junction of three major Camberwell roads.
During the economic downturn, the Victorian Civil and Administrative Tribunal gave FKP permission to boost the number of apartments earmarked for Aerial, by almost 40 per cent. The project is due for completion in 2012.
Aerial is one of two controversial high density redevelopments in the Burke Road, Camberwell area.
Earlier this month, developer Tenterfield announced plans for The Place, a major apartment tower, office and shopping centre at the Camberwell station nearby.
Both Aerial and The Place were approved by VCAT, after being opposed by the council and a vocal part of the community.