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smooth operator
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smooth operator
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representing developer, Apex Vic Pty Ltd
 

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Developer
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Eventually there should be a whole row of 150m buildings along this section of City Road.
 

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Does this fall outside of the proposed100m southbank height limit area? lots of activity here.
Salvo launching new one soon too across in city road
couple of sites for sale in haig street across from tiara that could also get going .
 

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Whoever said Melbourne's property market is oversupplied or declining?

Sure some property analysts and, ahem "experts" haven't let go of their decade old prophecy of a glut in the city residential market... and yes, the median house price has dropped slightly but this is in large because multi millionaires become frugal in times like these and hence the mega mansion market segment is completely screwed, if mansions that used to reach $10million are now going for $6million that obviously has a pretty big impact in skewing figures... this frugality on behalf of the ultra wealthy is also why "The Capitol" which was the most stunningly designed project probably in the entire country didn't get off the ground... hopefully the design is retained and the interior apartment configuration is all that is touched.

Another project down the street from capitol also faile for said reasons... thank god in that case... as it really was just a stumpy Balencea clone... and it's sold out replacement project "The Avenue" is a far superior design for a building of it's height and has the potential to be the most beautiful apartment complex in the city if it's construction is pulled off properly with just the right color and reflectivity glass... I actually live in another one of that projects developers ("fridcorp") complexes... and I can completely vouch for them delivering the goods on their motto of "attainable luxury"... my apartment has interior design and fitting and fixtures that far surpass the luxury feel of apartments in neighbouring complexes with far higher asking prices.

I saw on "The Project" last night one of the presenters asking Julia Gillard how the government can be proud of a so called strong economy (due more or less solely to the mining sectory) when in the whole of NSW there are only 50 construcion projects under way and 10,000 construction workers have lost their jobs... a terrible situation and hopefully one that turns around in the near future to at least some degree.

Fact of the matter is... Sydney is no longer the popular choice for immigrants (of which the vast majority are asian/indian) as it, and particularly it's central core, reminds them too much of the overcrowded cities where they originate.

i would hope that this comment is not seen as racist in any way... as some of my closest friends are of both asian and indian decent... however i have spoken to asian students that chose melbourne over sydney to settle because sydney reminds them of cities like Hong kong... having said that... I have made a lot of trips to Sydney recently and the the pedestrian traffic in the CBD are at least 80% asian... not a bad thing... i think it's actually great... at least there are lots ppl on the streets bringing the city to life... born aussies by culture seem to have a much more home body social attitude than our newer counterparts, who seem to spend a deal of their time walking or hanging around on the streets rather than the straight out of a cab or transport and into a venue or their place of residence option like the majority of aussies seem to prefer.

So... ChrisJudd83... your comment is largely unfounded and irrevelant... Melbourne has been the fast growing city in the country for almost a decade now and in 15 years will be bigger than Sydney... Just like it used to be until the 1960's. People of asian decent en mass will always prefer to live as close to the CBD as possible if not right in the heart of it... and good on them... if i could afford to live there in apartment the size of the one i call home in Sth Yarra... suburbs i would absolutely make that choice. Unfortuntely... larger size CBD residences are an absolute rarity and come at the highest of costs.

If your comment was regarding a proposal of a 60 story tower in Sydney then it would make absolute sense... Melbourne is only just on the start line of its biggest skyscraper boom in history. With the city growing by 80,000 people each year... all these people need somewhere to call home.. and what better a place than right in the city with not only the prettiest skyline in Australia, with the best architecture and so much more glass than any other city... but the skyline is is about to be boosted to an entirely new level thanks pretty much entirely to our high foreign immigration rate.

Melbourne might look good now... but just wait n see how it looks in another 10 years... we might not have an incredibly stunning harbour to make the city look amazing from up high... but having seen the city night light skyline from a 64th floor balcony in Eureka... i was absolutely gobsmacked at just how beautiful it already is... and the super scraper boom in this city hasn't even begun yet.

Wow... this reply turned out being a lot longer than initially planned... but i hope you find yourself enlightened ChrisJudd83 and realising that just because something might be the case in your city doesn't necessarily mean it's the case everywhere else.

Market appropriate projects down here have been selling out like hotcakes for a good while now... and while it might have been about 6months since anything of note has really been released to market... a whole bunch of larger than life projects are imminent in coming to market at this very moment.
 

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More apartments? Whats the point of proposing more of them in an oversupplied declining market
amazing to read posts like this that see the world and eternity as a moment in time from a single human perspective.............that's OK, expect most people do........
 

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JOIN YOUR UNION
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More apartments? Whats the point of proposing more of them in an oversupplied declining market
Yeah!!! Lets just give up on apartments altogether and only build uber-profitable sprawl for the 70,000 people moving to melbs annually. Yeah!!!!!!!! Everybody wants the exact same type of housing product: one with the highest possible overheads as far from the cbd as possible!!! Nobody will ever move to the cbd and surrounds ever again starting.......right...now!!!! Apartment price Armageddon ftw!!!

(Sarcasm)
 

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smooth operator
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Discussion Starter · #14 ·

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More apartments? Whats the point of proposing more of them in an oversupplied declining market
sorry to pile on bud, but oversupply or at least increased supply can lead to a moderation of price growth/inflation and result in a more sustainable and achievable housing entry market...a good thing, IMHO
 

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So many people on here would love to see Melbourne tank, if not for anything just to make there own home town seem better.
You just have to read some of the posts of Cul, Lancy or that Chrisjudd troll, they just cant wait for the apocalypse to hit Melbourne.
Poor Sydneysiders, is that all they have to make them feel better..
 

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AshMelb
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More apartments? Whats the point of proposing more of them in an oversupplied declining market
It's actually flipped the market into good. It's made the percentage of people moving to sprawled areas of Melbourne (Ahem Pakenham scissor hands) less. It makes inner city living cheaper, not by much but cheap enough to put the breaks on urban sprawl for a while. Thank God!
 

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The Australian has finally noticed this one.

Not sure what thread this should be on? So many new towers proposed for Southbank!

Minnow makes plans for Southbank tower

by: Sarah Danckert
From:The Australian
September 13, 201212:00AM

A GROUP of Australian-Chinese developers has lodged plans to build a 60-level apartment tower on a block of land tucked behind Melbourne's Crown casino.

Developer Apex Vic is seeking state government approval for the project, which will include 439 apartments and a retail component.

Based in the leafy eastern suburb of Balwyn, Apex Vic is little known in Melbourne property circles and The Australian was not able to make contact with the developers.

The plans come at a time when a number of developers in inner Melbourne have either shelved or walked away from plans for similar developments as the rate of apartment sales in the city and surrounds slows. As a result, a number of large-scale sites have been offered for sale.

CBRE agent Mark Wizel said the Southbank area was still popular with developers, but that many were waiting to see how the market played out over the next six to 12 months. " I would say that strong interest is around for Southbank as a suburb, but at present most of the interest is capping out at a maximum number of units of 200-250," he said.

Further afield in Abbottsford, billionaire scion Sam Tarascio Jr's Salta Property has filed plans for a serviced apartment tower on the former Metropolitan Fire Brigade site on Victoria Street.

The development is part of the group's $1 billion Victoria Gardens mixed-use project that is set across several sites in Richmond and Abbottsford close to the Yarra River.

Construction has started on Salta's 467-apartment Green Square after 70 per cent of the units were sold within a few months of going on sale, while all 355 apartments on offer in another complex have been sold.

During the past two years, Salta has sold a number of industrial properties in its billion-dollar-plus property portfolio, including a collection of eight distribution centres that were sold to Singapore's Government Investment Corporation for $220 million.

This year, the group sold Victoria Dock to Qube Logistics for $47m after the companies formed a partnership to develop and operate intermodal ports serviced by rail networks across Melbourne.
 
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