A builder has been appointed to a new luxury residential development which will be the first residential apartment development to start construction in Melbourne’s CBD this year. Works on the $300 million Bates Smart-designed project will commence shortly.
Located on the site of the former Mercure Melbourne Treasury Gardens hotel, 17 Spring Street is Cbus Property’s second venture with the Hacer Group.
17 Spring Street will be the first C270-compliant residential development since the Victorian government introduced new planning controls to guide central-city development, particularly projects in the Hoddle Grid and Southbank.
Cbus Property’s Chief Executive Officer, Adrian Pozzo said in collaboration with Bates Smart, Cbus Property has designed a luxury residential project of global standards to enhance the top end of Melbourne’s CBD and promote the long-term liveability of the central city.
“We are confident the Hacer Group will complete the high-end product with the utmost attention to detail and finish,” he added.
17 Spring Street will comprise a mix of two and three-bedroom apartments, as well as generous half and whole-floor residences. The project also features a 468-square-metre penthouse with a 240-square-metre terrace and private pool.
Construction completion is anticipated for mid-2022.