A $95-million, mixed-use development on the “coolest street in the world” has been unveiled.
The joint venture by Chapter Group, CDL Australia and Crema Group has been several years in the planning, and will bring six townhouses, 57 apartments, 679sq m of office space and 575sq m of retail to 411-421 Smith Street, Fitzroy.
The street was recently crowned the coolest in the world, ahead of Passeig de Sant Joan, Barcelona, and South Bank, London, according to a Time Out survey of 27,000 people. Sydney’s King Street was in 19th spot.
The nine-storey building designed by DKO Architecture would incorporate the existing interwar workshop and garage façade.
Chapter Group director Dean Lefkos said there had been strong interest in the apartments as well as the commercial space.
“Commercial feasibility metrics versus residential are starting to look quite favourable,” Lefkos said.
“We forecast this to continue for the next few years so we are looking to be active in the right locations, in particular Windsor, Prahran, Collingwood and Fitzroy, where we have exposure.”
Lefkos said they planned to launch the project, to be called Fitzroy Fitzroy, the moment the city was out of lockdown, so they could host people in the display suite.
There are a number of plans and developments under way along Smith Street.