Melbourne developer Urban DC has lodged plans for its second apartment tower at Frankston in the city’s south-east as a post-pandemic wave of gentrification ramps up in the beachside suburb.
Harbour Frankston is a 13-level development with 107 apartments and ground-floor retail earmarked for a 3108sq m site at 446-450 Nepean Highway.
The Elenberg Fraser-designed proposal—featuring curved architecture inspired by its bayside location and cascading greenery—fronts Kananook Creek and is close to the beach.
It comes off the back of Urban DC’s nearby nine-storey, 71-apartment Horizon project, which is currently under construction and due for completion in late-2023.
Urban DC director Danny Ciarma said it had tested the depth of the luxury owner-occupier market in Frankston and found strong demand.
“I always sensed the market was there and hence the reason why I invested heavily to test the market,” he said.
“It paid off and since then a lot of developers have turned their mind to the area ... this decade will be a turning point for Frankston.”
Ciarma said the market response to Horizon had given him the confidence to emabark on Urban DC's follow-up project in Frankston.
“It is very clear that locals are seeking the kind of premium, high quality luxury living you might get in the inner city, but further down the coast,” he said.
Topping its proposed second tower is a rooftop pool deck with a spa, sauna, gym, entertainment lounge, wine room, garden retreat, therapy studios and outdoor yoga area.
The residential component includes a range of one-, two- and three-bedroom apartments as well as penthouse-style residences on the top five floors.
They will sit above a retail podium, including a wellness centre, and a ground-floor hotel-style entrance with a concierge and a business club fitted with a boardroom and hot desks.
“Elenberg Fraser has done a fantastic job with the design, creating a curving form that actually provides incredible direct water views to just about every apartment,” Ciarma said.
“We truly believe between the two of them, Horizon and Harbour will change the face of Frankston and reframe what people think about this evolving suburb.
“Frankston is experiencing a transformation as more people sea change to the bayside craving outdoors and waterside environments.
“The Frankston Hospital is currently undergoing a $605 million redevelopment and the Chisolm Institute's Frankston expansion are just two projects that indicate the investment and potential of Frankston."
Property prices in Frankston have surged in recent times.
A dilapidated and dated beachfront house listed for $2.5 million-$2.75 million recently sold under the hammer for a record $5.05 million—$1 million above Frankston’s previous house price record.
