It's taken from June, when I posted this pic of the framework being installed, until today to unveil Mayfair's huge banner. I think we need a new thread for this, as it may yet be our first Zaha Hadid project to get off the ground.
'Unprecedented' downsizer interest drives Tim Gurner sellout
Financial Review rich lister Tim Gurner sold 97 per cent of the apartments in a new Melbourne high-rise project in just two weeks after offering larger apartments to the downsizer market.
Mr Gurner's Albert Place Residences on Bowen Crescent in South Melbourne originally featured 160 apartments, but was reduced to 140 after downsizers chose to amalgamate apartments to create large residences.
The resulting layout created eight half-floor residences all worth between $4.5 million to $5.5 million with the project generating total sales of $140 million.
Mr Gurner said he took a calculated risk by offering a third of the apartments in the tower, designed by Elenberg Fraser, as three-bedders to "test the scale and breadth of the downsizer market" but that it had "paid off in spades".
While Mr Gurner has consistently rejected the view there are too many apartments being developed in Melbourne, he warned that new state government changes to stamp duty, which include the removal of off-the-plan stamp duty concessions for investors, would have a "large impact on the investment market without question".
Read more: http://www.afr.com/real-estate/residential/vic/unprecedented-downsizer-i... (link is external)
Icon has won the tender to build the 3 tower 'St Boulevard'. 3 towers called Anaca, Gingko and the large curved one is Magnolia.