Locally developed Melburnian apartments launching in Pascoe Vale
A $56 million project, across 7,500 square metres, in Pascoe Vale South is the brainchild of Coburg-based Better Living Group.
The creation, The Pasco, is 10 kilometres from Melbourne CBD on Cumberland Road and will offer 142 one- and two-bedroom apartments. They all come with a car space, a storage cage and lift access to the basement carpark. Street level apartments have individual street access.
Of the apartments, 76 are two-bedroom, two-bathrooms from $415,000, ranging from 78 to 144 square metres including the balcony or courtyard.
One-bedroom, one-bathroom apartments, of which there are 66, will range from 58 square metres including a balcony, and are priced from $315,000.
Some of the top level apartments have uninterrupted CBD views.
Pascoe Vale has recently been cited by Australian Property Monitors' as one of a number of Melbourne suburbs undergoing a gentrification process. Despite this, affordable options still exist - in February Robert Larocca noted that one in 10 sales in this area sells for less than $400,000 - in line with the pricing of these apartments.
RP Data currently puts the median apartment price for Pascoe Vale at $418,500, with median asking rent at a soft $340 per week and time on the market dramatically decreasing over recent months.
The project, set across four buildings and three levels, has been designed by Point Architects and interior designers Colab Design Studio.
Two of the buildings have 36 apartments, while the other two have 35.
Director at Better Living Group, Dino Mazzei, said that they have been looking at the concept of community mindedness when creating The Pasco.
“With this in mind, we envisage The Pasco as a private community that celebrates and builds on the warmth of the suburb’s long-time residents and aims to be a positive addition to the growing neighborhood,” said Mazzei.
Timber floors, open plan living, and carpeted bedrooms are the basics of the design. Buyers have the option of a classic light or a dark colour palette.
With 2.7 metre ceilings, floor-to-ceiling windows and balconies opening out onto both personal and communal outdoor areas, they have endeavoured to create the indoor/outdoor feel. They have included private landscaped areas covering almost 2,000 square metres.
At the centre of the development is a communal entertainment area with a gazebo and BBQ area.
The apartments also have passive solar heating, ventilation and a standard 6-star energy rating.
Construction is scheduled for early 2015, with completion for the end of the year.