South Melbourne's 65 apartment Jewel development launched

South Melbourne's 65 apartment Jewel development launched
Jennifer DukeDecember 7, 2020

Evolve Development and Hassell architects have come together to create South Melbourne’s ‘Jewel’, a 65 apartment development at 244 Dorcas Street.

The seven levels of apartments at Jewel are expected to attract 60% owner occupiers and 40% investors. New residents are likely to move into the $45 million project by late-2016.

All apartments come with a storage and bicycle space, while all apartments except for all 19 one bedroom apartments and five of 15 ‘premium’ one bedroom apartments have car spaces.

In total, nine one bedroom plus study apartments and 22 two bedroom, two bathroom apartments will include parking.

A retail tenancy, with a car space, will also be featured in the development.

The one bedroom apartments, spanning 45.1 square metres internally plus a further 4.9 square metre terrace, have price indications of $395,000 to $440,000.

The ‘premium’ one bedroom apartments will be priced from $450,000 to $575,000. They range from 48.5 square metres to 52.3 square metres internally with a 5.4 square metre to 24 square metre terrace.

One bedroom plus study apartments, spanning 56.4 square metres to 58.1 square metres internally, plus a 5.2 square metre to 28 square metre terraces, will be priced from $540,000 to $620,000.

The two bedroom, two bathroom apartments will range from $685,000 to $960,000, with internal sizes of 61.5 square metres to 93.9 square metres. They will feature terraces spanning from 7.0 square metres to 69.2 square metres.

The development is expected to achieve a 4 star/green star sustainability rating. Some of its features include solar power for the common areas’ electricity and a 15,000 litre rainwater tank in the basement.

Evolve director and founder Ashley Williams said that they are a Melbourne-only developer and the Jewel apartments are in a sought after location.

“Given the high quality of architecture and finishes we expect Jewel to appeal mostly to owner occupiers looking for an oasis to call home, with commanding sea and city views, with  the popular South Melbourne lifestyle at the doorstep,” said Williams.

Evolve Development has completed $11.8 million Keilor project The Orchard, $190 million Southbank project The Guilfoyle and $127 million Melbourne CBD Queens Road project Monarc. They are currently working on other projects in Epping, Williamstown and Mickleham. Future projects are expected to be seen in Southbank, Clyde, Hillside and Wollert.

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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