Far East Consortium’s Upper West Side development continues to press ahead despite concerns about Melbourne’s red hot apartment market.
According to sales agent Colliers International, the development’s second stage, Madison, is almost 85% sold and about to begin construction. One bedroom apartments started from $344,000 and two bedrooms from $439,000.
The project’s first stage, which is currently under construction and nearing sell-out, features a striking 45 level tower. Estimated completion for Stage 1 is expected mid-2013 with Stage 2 completion in early-2014.
Designed by Cottee Parker Architects, Upper West Side is one of the largest inner city developments in Australia with 2,600 apartments spread over 4 towers with 30 retail outlets and a project value of approximately $AUS 1 billion.
Bordered by Spencer, Lonsdale, Little Bourke Streets and Rose Alley, this sculptural and iconic addition to the Melbourne skyline will reinvigorate an entire pocket of the inner city and offer owners access to wealth of amenities including a gym complete with 25-metre indoor lap pool, expansive deck overlooking historic Spencer Street and almost one acre of podium rooftop garden.