Sydney-based developer Crown Group will expand its operational footprint launching its first Melbourne development, in a joint venture project with G3 Projects planned in Southbank.
The “arts-inspired” $140 million apartment development comprises two Koichi Takada-designed residential towers that will stand 14-and-16-storeys.
Crown Group chief executive Iwan Sunito says the expansion is the first of many planned in the Victorian capital with plans to deliver a $3 billion development pipeline.
“We’re still in the development phase of concept, Koichi is still working on the design, but in the next few weeks we’ll be releasing the images,” adds Iwan.
The building is designed on the concept of a cloud, and the white colour for the building is to represent the ‘pure’ look, says Iwan.
"It also had to be somewhere where artists could show their work, and we were even thinking about having a coffee shop with art in the building."
"There are emerging artists coming from special learning needs, there are a lot of artists who do not know how to start a business, so I am in discussion with the university to see what we can do to collaborate. The place will become a start-up for artists who have special learning needs. It’s very much a 'Crown' point of innovation and pushing the boundaries," says Takada.
Crown Group partnered with boutique Melbourne developer G3 Projects on the towers.
“The price point in Melbourne means there is a much lower barrier to entry for buyers, and the price per sqm, of around $12,000/sq m, is about half that of Sydney, so buyers still have the opportunity to buy into a beautiful development ...but at a much lower entry point.”
Takada adds that Crown group’s product speaks for itself in Sydney, so I feel like people will have the confidence in Melbourne.
“It’s quite an innovative approach from the council, instead of affordable housing, they want affordable retail. It’s a different way of thinking."
The precinct will be home to the Australian Performing Arts Gallery and Australia’s largest contemporary art and design gallery the new NGV Contemporary at 77 Southbank Boulevard.