Princeton has announced it will finance the construction of two residential projects in Wolli Creek, for a sum of $40 million.
To be delivered in two stages, the development is being carried out with Buildview Group. The first stage is currently under construction, and is due to reach completion in the coming months.
The development comprises 51 high-end residential apartments which will provide a welcome boost to living opportunities in the area. Buildview Group commenced the construction of the first 31 apartments at 3-5 Arncliffe Street in March 2021 and is due for completion in June, the total value of apartments at this address will be $23 million. The second stage of the project at 1 Arncliffe Street commenced in September 2021. 20 new residential apartments will be built with a combined worth of $17 million upon completion in December 2022.
Princeton Founder George Gadallah says the investment house values its relationship with Buildview Group, which will subsequently create opportunities for convenient apartment-living near Sydney’s travel hub.
“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,” Gadallah says.
Wolli Creek is the latest in a series of projects announced by Princeton in recent past. Two developments in Botany and Blakehurst are about to begin construction, while the distinctive luxury-living development at Bondi Beach, Eurangi has begun the build process.
“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,” Gadallah says.
Visit princetonmortgagefund.com.au for more information.
Image: Supplied
