A popular suburb in south-east Melbourne is set to welcome a new apartment complex after building work got underway at the $100 million development.
The 2,700 sqm Glenarm Square project in Glen Iris has been a huge hit amongst first home buyers, young families, and downsizers with 70 per cent of the two and three-bedroom apartments already selling out.
Private developer DealCorp is behind the exciting project and after securing funding from investment management firm Qualitas have been able to kick off construction with the help of builders Hamilton Marino.
DealCorp executive chairman, David Kobritz says the development will transform the surrounding areas once completed in early 2022.
“Glenarm Square is set to deliver not only high-calibre apartments for buyers but an activated public realm that will seamlessly integrate with the entrance to the train station and bring a vibrancy to the area with the activation of over 800sqm of retail and commercial space,” he says.
“By creating living and vibrant neighbourhoods out of this repurposed and highly valuable land, we can deliver residences in suburbs where demand is traditionally high, and create an alternative solution to the challenge of urban sprawl,” David explains.
The site, at 5 Glenarm Road, will offer apartments ranging in price from $600,000 right the way up to $1,800,000.
“Glenarm Square is not only proof that the concept works at an engineering and development level, but a benchmark for the revitalisation of future sites of this nature,” David says.
Marshall White Projects are overseeing the sales campaign which has taken off in recent weeks and is expected to surge again following the imminent release of the penthouse collection with the premium apartments starting at $1.1 million.