Melstone moves on Melbourne's eastern suburbs
One of the latest planning applications to be advertised via City of Boroondara underlines the growing ambitions of BALWYN-based developer Melstone.
352-358 Canterbury Road is Melstone's latest endeavour, having enlisted Elenberg Fraser to deliver a design that will capitalise upon Melstone's confidence in Melbourne's local apartment market. The Surrey Hills project intends to replace a permit for a more modest Neil Architecture-designed scheme of 29 predominantly townhouse dwellings.
Conversely Melstone hopes to yield 42 apartments across the 5 level proposal which has a development cost of $20 million. Asked by Urban.com.au, Melstone says the Surrey Hills project will squarely be aimed at local downsizers and owner occupiers.
352-358 Canterbury Road has been positioned to become the area's premier apartment development, as described by urban planning agency proUrban:
The proposed development presents an elegant, mid-rise, mixed-use building of architectural excellence on an underutilised inner-urban landholding. The building proposes to reinforce an emerging character of mid-rise buildings, as emphasised within planning policy and evidenced through recent planning approvals in the area for buildings of increased scale.
As a result the Surrey Hills proposal's apartment split sees 4 single, 25 double and 13 triple bedroom apartments.
Surrey Hills though is not the only apartment development on Melstone's agenda. A display suite sits at the ready at 33-35 Ringwood Street, after the DKO Architecture-designed application gained approval during April.
The Ringwood development is a seven storey mixed use project consisting of a basement car park, ground floor retail spaces and apartments above. Urban.com.au recently highlighted the currently robust Ringwood apartment market, with 600 apartments now under construction.
Melstone expect 33-35 Ringwood Street to launch in coming months, and will be aimed at capitalise upon the underlying demand for apartments in the suburb.
Melstone's largest project was a Box Hill apartment development which they successfully sold during 2017 with a permit in place. 16-22 Wellington Road includes approximately 130 apartments over 14 levels in another design conceived by Elenberg Fraser.
The Box Hill project entered planning during early 2016 under the guidance of Melstone and found approval late in the same year.
Melstone's rise to prominence is reflective of many Melbourne developers who began with small-scale apartment or townhouse pursuits and have progressed to more robust developments, mirroring the growing appetite for apartments across wider Melbourne.
