Sydney-based investment house Princeton is financing the construction of two residential projects in Wolli Creek worth $40 million.

The development by Buildview Group will take place in two stages, with the first already underway, and will be fully complete by the middle of 2022.

Less than 10 minutes’ drive from Sydney International Airport, the Wolli Creek projects will provide a significant boost to the living opportunities in the area with the addition of 51 high-end residential apartments.

Buildview Group commenced the construction of the first 31 apartments at 3-5 Arncliffe Street in March 2021, with a total value of $23 million, and is due for completion in June.

The second stage of the project, comprised of 20 new residential apartments at 1 Arncliffe Street, began in September last year and will be worth a combined $17 million upon its completion in December 2022.

Princeton founders George Gadallah and Craig Anderson said the company valued the contribution of its relationship with Buildview Group to creating opportunities for convenient apartment-living near Sydney’s travel hub.

Gadallah said: “We have a strong relationship with Buildview Group, and we’re excited to be working with them again on residential developments that ramp up the lifestyle opportunities in Sydney’s south.

“The Wolli Creek projects build on Princeton’s track record of backing quality developments across Sydney and are a worthwhile addition to our expanding portfolio.”

Wolli Creek is the latest in a series of projects announced by Princeton.

Residential developments are starting soon in the burgeoning south Sydney suburbs of Botany and Blakehurst, while construction is ongoing at the distinctive luxury-living development at Bondi Beach, Eurangi.