As there becomes an increasing need for sustainable urban and population growth in central Melbourne, sites such as Gardiner Train Station have become increasingly sought after as rare infill development opportunities.
DealCorp executive chairman David Kobritz said the project will deliver a much-needed affordable apartment product to a location where the median house price is currently over $2 million.
“With their excellent locations and proximity to transport and other established amenity, this site is a prime example of urban regeneration in a location where traditional home prices are out of reach, so we are excited to explore the way this successful test case can be applied in a wider setting in the future,” Kobritz said.
The development will feature 1000sq m of retail and commercial space over two levels with a range of services for retail.
A lounge, pool, and gym will also feature inside the development, reflecting the demand for high-end amenities in the city’s east.
“This project represents an innovative, collaborative approach to infill development,” Kobritz said.
“This project, in this location, was so appealing to us – it was an opportunity to regenerate and re-activate one of Melbourne’s most in-demand inner eastern suburbs in a specific locale where community amenity is currently lacking.”
To date, developer DealCorp has completed 16 projects pocketing a total gross revenue of $550 million.
The developer’s most notable project, Polaris 3083, an urban regeneration project repurposing the former Larundel Hospital into a $500 million retail, residential and hospitality precinct.