An autobiography by one of Melbourne’s most successful property developers, Sam Tarascio Senior, was launched this month.
My Way details in 300 pages the billionaire’s journey from his childhood home in Italy’s Sicily, through to his current abode, one of Australia’s most valuable penthouses, in an East Melbourne complex he built.
Mr Tarascio (pictured top with his son, Sam Tarascio Junior) founded Salta Properties in 1972 completing his first warehouse in Cherry Lane, Altona North, in Melbourne’s west, a year later.
In 1980 he developed a company head office in Grieve Parade, Altona, spending the bulk of the next 15 years building industrial property in the west, north and Port Melbourne, before diversifying into office and residential construction.
More than 20 years ago Mr Tarascio acquired the Richmond parcel which is now occupied as the Victoria Gardens shopping centre and office complex.
In the early part of this century Salta started building interstate – completing stage one of Ardnell Park in New South Wales in 2000, and a project in Stradbroke Street, in Queensland’s Heathwood, a year later.
The company also invested more heavily into offices, including in Melbourne’s south-east. Salta was also responsible for some prestige homes and shops in Portsea on Victoria’s Mornington Peninsula, and dwellings in Toorak.
Ten years ago Mr Tarascio completed construction of a high-end residential project at 150 Clarendon Street, East Melbourne, built on a former Mercy Hospital site.
The Preston Market, in Melbourne’s north, is co-owned by the businessman.
Mr Tarascio has numerous other business interests including a winery, Taralinga Estate, on the Mornington Peninsula, which produces olive oil.
Salta Properties is now controlled by the billionaire’s son, Sam Junior.