A Review of Melbourne Apartment Projects: Those Marketed; Those Canned

INCENTIVES offered to stimulate apartment construction during the economic downturn, such as record low interest rates, and first home owner grants, have resulted in some of the city’s biggest, boldest apartment-based projects being offered to the market.

But not all developers could get their projects out of the ground.

Domain took a look at some of the more ambitious redevelopment proposals launched, and canned, since its last Apartment Guide, in Spring 2010:

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Silverton to Sell Out of $100 Million Balwyn Project

LIFE is about to get a little less private in ritzy Monomeath Avenue – the leafy eastern suburb boulevard often touted as Melbourne’s best street.

Despite being rejected by the City of Boorondara council, the Victorian Civil and Administrative Tribunal has approved a $100 million-plus mixed use village only a block away, which will add four new apartment towers to the area – the tallest of which will rise seven levels.

The proposed new Balwyn development affects a large chunk of land on Jersey Street, which Monomeath Avenue residents use as the most straightforward thoroughfare to Whitehorse Road.

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VCAT Approves Construction of Luxury Home Overlooking Controversial Mount Martha Beach

EXHIBITIONIST sunbakers and adventurist gays visiting Mount Eliza’s Sunnyside beaches might have to contend with the sight and sound of construction workers for a few years longer.

Millionaire horse trainer Jonathan Munz has successfully lobbied the Victorian Civil and Administrative Tribunal for a permit to build a luxury home and tennis court on a waterfront piece of his landmark Pinecliff horse training complex – near another home that was demolished in 2006.

Pinecliff, at 55-75 Sunnyside Road is on Green Wedge Zone 3 land near the YMCA’s Manyung Recreation Camp, the Morning Star Winery and Mornington Golf Club (an image of the Mount Martha coast, above).

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Pratt Family Offload Prominent Hawthorn Development Site

THE Pratt family’s investment vehicle, Thorney Holdings, has decided against redeveloping Hawthorn’s derelict California Hotel.

Run for 20 years by the Alex Waislitz, the son-in-law of the late Richard Pratt (pictured, right), the intensely private company purchased the 7799 square metre site at 138 Barkers Road (pictured, far right) in 2007.

In 2009, the Victorian Civil and Administrative Tribunal approved a proposal which would see the 82-room hotel demolished and replaced with a $42 million 87-unit residential apartment complex rising five levels.

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Ettamogah Entertainment to Sell Brighton Headquarters

THE developer that has kept Melbourne’s heritage enthusiasts on edge for a year has quietly listed its Brighton headquarters for sale.

Ettamogah Entertainment, which went into voluntary administration last November, is directed by Leigh O’Brien, whose development company, L&D O’Brien Holdings, paid $12 million in 2009 for the prominent 1 Bay Street Brighton mansion once owned by Olympian turned Gold Coast Mayor Ron Clarke.

L&D planned to replace the 1933 square metre site with a high-end apartment complex, after the Victorian Civil and Administrative Tribunal approved the historic six-bedroom home on the site (pictured) be demolished.

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Another Slice of Historic Sorrento Property Hits The Market

THREE months after telling Domain he had no intention of doing so, Richard Sheldermine – a member of the Myer dynasty – is selling another subdivided piece of the historic Sorrento property known as The Sisters.

This time, it’s a 2946 square metre waterfront portion being offered, with price expectations of some $10 million.

Earlier this year, Richard reaped $6.5 million selling a 1915 square metre subdivided slice of the estate at 3080 Point Nepean Road.

Richard paid $18.4 million for the historic 1.2 hectare site in early 2008 (pictured, right), before successfully applying to the Victorian Civil and Administrative Tribunal to slice it five ways.

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VCAT Cans Plans to Make Melbourne’s Tallest Suburban Tower Even Taller

WITHOUT the previous government’s contentious Melbourne 2030 planning document to refer to, VCAT has canned an ambitious proposal by the owners of South Yarra’s Fun Factory site to make the suburb’s tallest proposed skyscraper, even taller.

The rejection means the main residential tower at the $150 million Capitol, South Yarra project (pictured, right) will rise “just” 38 levels and 133 metres.

This would still make it the tallest residential building outside of the central inner-city, loosely defined to include Southbank, Docklands and, now that it will have its own skyscraper compound, Carlton. The Royal Domain Tower, at the Domain junction, rises 152 metres.

VCAT approved a 38-level redevelopment of the Fun Factory in 2009. That approval will see a historic building at the north-west corner of Toorak Road and Chapel Street demolished and replaced with a mixed use project including 7500 square metres of offices, 4400 square metres of retail space, 496 car parks, 120 bike spaces and 204 flats, in the proposed major skyscraper.

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Prominent Brighton Mansion, Former Home of Olympian Ron Clarke, Could Set Suburban Record

A prominent Brighton home once owned by Olympian turned Gold Coast Mayor, Ron Clarke has hit the market and may set a new price record for the ritzy bayside suburb.

The spectacular Spanish Mission style mansion at 1 Bay Street is expected to sell for about $15 million – either as a renovation rescue or an apartment development site.

At this kind of money, the six bedroom 1920s home on a 1933 square metre block, could surpass the $15.5 million suburban record set last July when property developer Mario Salvo purchased a modern waterfront home in Glyndon Avenue.

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Madden’s Clayton Development One Step Closer

Justin MaddenTHE Monash City Council didn’t want it – but Planning Minister Justin Madden did – and now one of the south-eastern suburb’s biggest public-private housing developments is set to start construction soon, in Clayton.

After more than ten years of debate, a $270 million apartment-based complex will replace a low-rise shopping centre at the busy north-east corner of Dandenong and Blackburn roads.

Approximately 400 apartments will be developed as part of The Nova Centre redevelopment – many to accommodate public housing residents, and students. A hotel and shopping centre will also be built on the site.

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VCAT to Decide High Rise Prahran Apartment Tower

PLANS to redevelop Prahran’s former Royal Victorian Institute for the Blind office into a nine-level apartment building have been rejected by the Stonnington City Council, and will be decided by the Victorian Civil and Administrative Tribunal.
 
The prominent 85 – 97A High Street office will be demolished and replaced with a $25 million, 108-unit complex, under a proposal by the site’s new owner.
 
The project would be the tallest apartment tower in Prahran, outside of public housing complexes at the Bangs and Horace Petty estates, which soar 16 levels.

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Major Project Proposed for The Other Camberwell Junction

IT’s been a busy year for Camberwell junctions.
 
No sooner had the helium balloons deflated from developer FKP’s launch of Aerial last Thursday, has word of another major development, at “the other” Camberwell junction, come to the fore.
 
The former Juliano’s restaurant, at the frenetic intersection of Toorak and Camberwell roads, is earmarked for a six-level, 76-unit apartment building, after plans for an eight-level, 85-unit complex were rejected by council.

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FKP Launches Aerial, at Camberwell Junction’s Former Henley Honda Site

Aerial CamberwellTHE site that became the subject of a messy planning dispute between Melbourne’s most ambitious planners, and arguably its most conservative council – is ready to be developed.
 
Last Thursday, Sydney-based developer FKP officially launched Camberwell’s Aerial project, to be developed on the former Henley Honda site at the busy Camberwell Junction.
 
The proposal will include two nine-level glass apartment towers with 144 units, a 14-level glass office building and a shopping centre. Aerial is due for completion in 2012.

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VCAT Approves 38-Level Apartment Tower in South Yarra

MELBOURNE’S tallest apartment building outside of the inner-city will be developed on the site of a rundown hamburger restaurant at the north-west corner of Toorak Road and Chapel Street in South Yarra.
 
The Victorian Civil and Administrative Tribunal has approved The Capitol South Yarra, a $150 million mixed-use village, which will be identified by a 38-level tower soaring 133 metres.
 
The art deco Capitol Bakeries building will be demolished to make way for a multi-level, 4,000 square metre shopping centre, a 6-level 7,500 square metre office building, and 38-level luxury apartment tower.

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Mt Evelyn Residents Oppose Controversial Woolworths Development: The Next Round

Yarra Ranges Council and Mt Evelyn residents are preparing themselves for “round 2” of a fight against supermarket giant Woolworths, to halt development of a controversial mixed use development at the corner of Station Street and Snowball Avenue, in the city centre.

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