Brookfield Multiplex Nabs Green Multifamily Contract in Melbourne
- Aug 02, 2013
Melbourne, Australia—Leading global contractor Brookfield Multiplex has taken yet another bite out of the Australian real estate development market, snagging the construction contract for Far East Consortium’s Upper West Side mixed-use project’s third phase. Brookfield is currently developing Stage Two of the project and has successfully delivered Stage One of Upper West Side Apartments.
Stage Three of Upper West Side consists of 282 residential units and six retail spaces to be housed in a 31-story tower, the third high-rise in the mixed-use development located on the corner of Little Bourke and Spencer Street in Melbourne CBD. The tower will house 234 condominiums with the podium completing the necessary 48 to the total of 282 units. Cottee Parker Architects, the firm responsible for the eye-catching design of the first two phases of the project will handle stage three’s look as well. The tower will feature a precast panel and aluminum-glazed punch window façade, with latter ensuring sound proofing, while the aluminum louvers grant an efficient control of privacy and light within units.
Another feature of the previous phases to be implemented in phase three, as well as for future ones, is environmental sustainability. Green features at Upper West Side include an energy efficient indoor swimming pool, as well as green roofs, implemented throughout all stages of development. In fact, when completed, Upper West Side will boast the largest green roof in the southern hemisphere with a surface of approximately 43,000 square feet. Cottee Parker Architects will target a minimum 4 Star Green Star rating for the project.
Upon completion, Upper West Side, a residential and retail mixed-use project, will have added 2,600 residential units estimated to house about 4,000 new residents in Melbourne’s active inner city. Condos will range between studio residences and two-bedroom units and will be located in four residential towers ranging between 30 and 50 stories in height. One-bedroom units start at around $323,000 (AUD 360,000), while two-bedroom units sell at prices upwards of $378,000 (AUD 422,000).
One of the largest inner city rejuvenation projects in Australia, Upper West Side will also create approximately 26,900 square feet of rentable retail space within an interconnecting retail arcade. Two levels of underground parking as well as parking space inside the podium will also be created. Other amenities include a formal gym, bouldering gym, Tai Chi terrace, spa, pool, Bocce Court, rooftop garden, barbecues and quiet corners.
Stage Three has broken ground and is expected to complete in 2015’s third quarter.
Far East Consortium (FEC) International Ltd is one of the largest property developers in Asia. Founded in 1960, the company has been active in Australia since 1994 via its Australian property development operations, Far East Consortium. The company has a weighted focus on Melbourne, Australia’s second most populated city, with around 4.25 million inhabitants and growing swiftly. The city was less affected by the 2008 market crash than other areas, maintaining a healthy property market. FEC’s other Melbourne projects include the 42-story Royal Domain Tower, boasting 133 luxury residential units and the mixed-use Northbank Place with a 110,000-square-foot pre-sold office tower and a two-tower 384-unit residential component, also sold out.