Greens councilor Tony Archer said at the time local residents could “feel rightly disenfranchised” by Citimark’s proposal because few of them would have been part of the initial site consultation period 17 years ago.
Moreland City Council however supported the development and helped Citimark quietly obtain its permit. Council said construction must start by June 2010, or the permit will be void.
Citimark’s proposal will include nearly 200 flats, and a 1900 square metre retail component. It paid almost $9 million for the site in early February 2009. At the time of purchase it announced plans for the shopping centre, but not the residential component.
The block is now being onsold in a campaign managed by Colliers International’s Tim Storey and Brett Griffith. Sources speculate it should fetch about $10 million.
Around the corner, in East Brunswick, Little Project Development – the construction company of Toll executive Paul Little – is redeveloping the former Tip Top Bakery site as a $100 million mixed use village which will be identified by ten-level buildings. Little paid $11 million for the disused 1.25 hectare bakery in October 2009.