Developer Level 33 acquires Kogarah site for 300 apartment project

Developer Level 33 acquires Kogarah site for 300 apartment project
Developer Level 33 acquires Kogarah site for 300 apartment project

St George-based developer, Level 33, has acquired a row of a dozen homes individually on the southern side of Regent Street in Sydney's southern suburb of Kogarah for a proposed 300 apartment development.

Level 33’s proposal includes building nearly 300 apartments across four separate buildings. Sales are expected to launch in early 2018 and construction is expected to commence mid to late 2018, the developer said.

The apartments are expected to be targeted towards first home buyers.

Level 33 said it spent 24 months negotiating the individual purchases as it had earmarked the potential site for its development due to its proximity to the centre of Kogarah.

Eddy Haddad of Level 33 said the best sites were always the hardest to purchase and patience and understanding was required to ensure the mutual benefit of all involved.  

The developer acquired 15 homes for a total of nearly $37 million.

“This site really ticked all of the boxes in terms of convenience, as it’s literally only a one-minute walk to Kogarah train station, the St George Hospital is 100 metres away, and all the other amenities in the centre of Kogarah are on the doorstep. You couldn’t live in a better part of Kogarah… it’s right in the beating heart,” said Haddad.  

“However, we fully understood we were dealing with families here and their pride and joy, so we really wanted to look after the owners and ensure they were happy with the outcome.

“A project of this scale is reasonably unique to this area and we are here for the long term, so we are really keen to work with the local community as our reputations at stake.” 

Haddad said the project will have plenty of affordable apartments for local first home buyers struggling to enter the property market. 

“This project will be really focused on addressing this issue”.  

Tags: 
Sydney Apartment Development

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