A $35million apartment complex by Rothelowman Architects is set to continue the gentrification of Elwood, Victoria, says the development’s selling agent.

A rare 2200sqm site in one of Elwood's leafiest streets will allow one of the largest apartment developments the popular bayside suburb has seen for many years, explains Evan Cathcart of 360 Property Group.

“For many years Elwood has experienced ongoing gentrification and is now known for its mix of grand Victorian, Edwardian and Interwar architectural character, along with its foreshore and leafy streets,” he says.

Canopy will consist of 58 apartments across four storeys and will feature a variety of high performing sustainability elements.

Rothelowman Architects says that the average apartment energy rating for the development will be at least 6 Stars, which will be delivered through a variety of the building finishes including energy efficient gas hot water and a three star reverse cycle air conditioning system.

A combination of high efficiency LED, compact fluorescent and metal halide lights are controlled by occupancy and daylight sensors throughout the building, ensuring that no energy is wasted on unused lighting.

Water efficient fixtures and fittings, all with a minimum 4 star efficiency, are also features of the project as is its 20,000 litre rainwater tank which is used for toilet flushing and irrigation.

The gardens will be landscaped by MDG Landscape Architecture and the building developed by UrbanInc.

Images: UrbanInc