Mirvac has officially begun construction on its latest residential community, Prince & Parade, in Brunswick, Melbourne. The $292-million project will transform a previously disused site where the old Princes Park Motor Inn was situated, into 167 urgently needed new apartments in the city.

Designed by Bates Smart, Prince & Parade is located in the heart of one of Melbourne’s most significant green corridors, just four kilometres north of the CBD. The upmarket development with direct frontage to Princes Park will feature a mix of one- to four-bedroom apartments, with residents having access to a suite of luxury amenities, including a residential lounge, shared dining room and kitchen, crown courtyard, library, gym, rooftop terrace, and concierge services among others.

Prince & Parade marks Mirvac’s third collaboration with Bates Smart, following their award-winning projects, The Melburnian (2011) and The Eastbourne (2019).

With the launch of Prince & Parade, Mirvac now has more than 900 apartments under development across Melbourne, underscoring the company’s strong commitment to the Victorian residential market.

Major works on the project commenced in March this year with a special event attended by Mirvac’s CEO Development, Stuart Penklis, and general manager, Residential Development Victoria, Elysa Anderson, along with Peter Khalil MP, Federal Member for Wills, to mark this significant milestone.

“Prince & Parade demonstrates how government and industry can work together to transform previously underutilised sites into much-needed homes for Victorians in desirable inner, middle ring locations, close to transport,” Penklis says.

Acknowledging the support of the State Government in the project’s progress, he noted, “Prince & Parade received the green light through the Development Facilitation Program and now we are delivering almost 170 modern apartments, creating 300 construction jobs and ongoing employment opportunities for the local community.”

On rejuvenating a disused site, Penklis added, “This residential community is a great example of how we can take a site that is no longer fit-for-purpose and deliver additional housing for the community. It’s important that we continue to work with all levels of government to find efficient planning pathways that allow industry to identify opportunities to accelerate housing across Melbourne.”

Mirvac’s general manager Elysa Anderson said Prince & Parade will join Mirvac’s $7.6bn Victorian development pipeline, with a new build-to-rent community opening in Brunswick later this year.

“This project completes Mirvac’s construction trifecta for our apartment offering, joining The Albertine in the St Kilda precinct and Trielle in Yarra’s Edge. Across our build-to-rent and build-to-sell projects, we are committed to delivering a range of apartments for downsizers, growing families and investors that are built for tomorrow.”

Sustainability is a key focus at Prince & Parade, with the building targeting an average 7-Star NatHERS energy rating through features such as double glazing, induction cooktops, heat-pump technology for hot water, and rooftop solar panels, all designed to minimise reliance on the grid and reduce environmental impact.

Additionally, Mirvac will create a green link connecting Brunswick Road to Park Street, designed by Jack Merlo, and will provide numerous public bike spaces. The development will also include a publicly accessible retail tenancy, expected to open around the time of project completion, offering a convenient café for the community.

Images: Mirvac

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