The project has an approved Planning Permit for three-storey apartment building compromising 29 dwellings above basement parking. The proposed strategy is to submit a Town Planning Amendment for a reduced yield of 19 apartments and a 1.5 level basement consisting of 3-bedroom apartments.

Planning

Plans have been re-submitted to council for endorsement. The team have regular meetings with Radio Town Planning but are yet to receive an initial response from council. Whilst the team await a response, they will continue working with the builder to progress the builder permit application.

Construction

Construction is forecasted to begin in September 2022.

Marketing & Sales

The target market for the project is directed towards mature couples and empty nesters, predominantly local to the Templestowe and acre belt area. This target market is looking to downsize to a large, contemporarily designed low maintenance property offering quality finishes, privacy, and security.

Currently the project has 4 executed contracted. One contract is subject to the purchased being awarded and the fire subcontractor for the project.