Plans to build a new $120 million mixed-use tower in Fitzroy have been launched by Melbourne-based Pace Development Group.
The new 10-storey building is planned to include 113 apartments, a three-level car park, and commercial space.
Pace Development Group bought the 2,411sq corner block at 223-231 Johnston Street and 369 Gore Street for $20 million last September.
The plan is to bulldoze the two buildings on Johnston Street, whilst the old factory along Gore Street is set to be renovated keeping its original red brick finish.
The plans include a variety of one, two and three-bedroom apartments, communal spaces on the first floor and rooftop, as well as two commercial spaces for a café, restaurant or shops.
“Pace is looking to launch the project in 2021, with marketing commencing in March and a view for construction to start later in the year,” said Ashley Bramich, Sales and Marketing Director of Pace Development Group.