Residential developer, Crown, has unveiled plans for a waterfront development at Rhodes, located along Sydney’s Homebush Bay, after purchasing the site from Brookfield Multiplex for close to $17 million.
The site has DA approval for a 149 apartment complex, spanning two buildings, which will be known as Sanctum.
Designed by Joshua International Architects, Sanctum will offer residents water views over Homebush Bay, a rooftop garden terrace, a gym, as well as secure basement parking and unique architectural features that will feature Asian influences.
The designs include an outdoor water feature with a gazebo that will seem to float, the developer claims.
Situated in the inner west of Sydney, the suburb of Rhodes is experiencing strong growth in the way of residential development due to its location overlooking the Parramatta River, as well as its proximity to Sydney’s Olympic Park and parklands such as Bicentennial Park and Millennium Park.
Crown CEO, Iwan Sunito, said that the project will reflect high standards of luxury and design.
“We are certain that the demand for Rhodes will be as strong, if not stronger, than our highly successful Gallery development in Parramatta,” Sunito said.
Sunito said that Crown had purchased the site at Rhodes as it is located within a high growth area and represents an opportunity to develop along the waterfront — something that the group has not yet done.
“Sanctum by Crown will be ideal for retirees and empty-nesters looking to downsize from larger homes and will also appeal to those seeking a blissful escape from the bustle of densely populated suburbs.”
Construction on Sanctum is expected to start early in 2010 and will take 16 months to reach completion, with the pre-sales campaign set to commence in January when the project is officially launched.
Crown Group also recently announced that it had purchased another development site in the heart of Parramatta which will be the largest residential development undertaken in the area and is set to cost around $200 million.
The sites at Rhodes and 45 Macquarie Street Parramatta add to the more than $1 billion worth of projects in the company’s development pipeline over the next five years.
