Paragon caps Beulah International's healthy Melbourne development portfolio
The Celtic Club's development is poised to proceed under the moniker Paragon, as developer Beulah International moves to capitalise upon the development permit granted under previous planning regulations.
At 316-320 Queen Street, the site's development history has been far from mundane, with project approval but one of the hurdles involved in realising the residential tower. As far back as 2013, inner club wranglings had the deal to develop the site voted down by club members.
Having eventually purchased the site last year after playing a patient game which involved a number of members votes on the fate of the club, Beulah International $25.6 million investment in the corner site will pay off with Paragon. The site's permit extension granted by Minister Wynne is due to expire in October, meaning Beulah International will likely move to launch the 48-level apartment tower shortly.
Spread across a 3,000sqm site, much of the Celtic Club will make way for the tower which was approved to include 256 apartments, although this number will almost certainly change as the developer rebalances the project's apartment schedule to meet current market conditions.
Peddle Thorp Architects were behind the initially approved version which was characterised by its green facade. Now understood to be in the hands of Fender Katsalidfis Architects, the tower's exterior has been given a more pronounced look, featuring a stretched diagrid pattern over a golden facade.
The emergence of Paragon follows on from Beulah International's purchase of its fifth Melbourne development site, a 2,000sqm South Melbourne plot with DKO Architecture given licence to create 27 luxury townhouses. The South Melbourne project is located on the corner of Boundary and Thistlethwaite Streets, with four level townhouses the expected outcome.
Beulah International first Melbourne project dubbed Gardenhill atop Doncaster Hill was completed at the turn of the year, whilst their Hallmark Ivanhoe apartment project also designed by Fender Katsalidis accounted for 80% of its apartments after two weeks at sales.
