A new apartment development on the site of the former Commonwealth Games athletes’ village in Parkville has defied Victoria’s softening property market with its first two stages already sold and Stage Three sales already under way.
Major Projects Victoria’s Executive Director, Tim Bamford, said that the 49 one and two bedroom apartments in Stage One of the Parkville Gardens development had sold, with most already settled.
“We’re delighted that after only 15 months we are handing over the keys to these fantastic and affordable new homes,” he said. “It’s also pleasing that around half of the Stage One buyers are owner occupiers.”
Mr Bamford said that all 51 apartments in Stage Two of the development had also sold and would be completed by the end of the year. Stage Three will comprise a further 58 high and low-rise one, two and three bedroom apartments, with 52 already sold and construction set to commence later this year.
The Parkville Gardens development is being delivered by Village Park Consortium (a joint venture between Australand and Citta) in agreement with the State, whose interest is being managed by Major Projects Victoria.
