An artist’s impression of Mastery by Crown Group’s ‘stacked forest’ apartment building.
IT takes fresh ideas to inspire buyers in the challenged property market, but the man behind a new project that will have a 20-storey tower with a “stacked forest” is confident of a sellout when it hits the market.
“We want to price it well because we want people who buy early to do well out of it,” the CEO of Crown Group, Iwan Sunito, said of his Mastery by Crown Group development.
Prices for the units will range from “high $500s” for a studio; $1.1 million for two-bedders and $1.5 million for three-bedders.
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Designed by the world-renowned Japanese architect Kengo Kuma, the 20-storey tower will be a “unique, signature piece” of the five-building development at 48 Odea Ave, Waterloo.
Unlike French botanist Patrick Blanc’s “vertical garden” at the Central Park tower in the southern CBD, Mr Sunito said the forest would grow in “horizontal battens mounted across the façade …. It will look like trees on a green hill”.
An artist’s impression of the rooftop pool at Mastery by Crown Group
There will be an infinity-edge pool on the rooftop with a gym and community room and a Japanese food court on the retail ground floor.
The 384 apartments would appeal to a new generation of buyers, Mr Sunito said.
“There’ll be lots of fancy restaurants and it’s going to be very trendy so it will appeal to a younger, hipster, wealthy and creative, along with a borderless generation of global travellers,” he added.
An artist’s impression of one of the Mastery by Crown Group luxury apartments
Latest data from CoreLogic shows apartment prices in Waterloo have dropped 2 per cent in three months and 4 per cent over the year.
Despite the cooler market, Mr Sunito expects the sales launch on November 17 to be a huge success, just as when Crown launched its Infinity by Crown Group at Green Square in 2015 when $385 million worth of apartments sold in five hours.
Even its Waterfall apartments at Waterloo sold $300 million worth of units in four hours on launch day last year.
“This is the next level for Crown,” he said.
An artist’s impression of one of the kitchens in a Mastery by Crown Group apartment
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“We have done beautiful buildings around Sydney and we want to take the bar to the next level again.
“The first stage will consist of 70 units and we expect them to be sold out completely.”
The first units offered will be in one of the low-level blocks. Three of these will be designed by the award-winning Sydney architect Koichi Takada with the fifth by Silvester Fuller.