Residential developer Finbar has received approval from the City of Subiaco to go ahead with a $170 million apartments project in Subiaco.
Finbar acquired the site, located on Hood and Roydhouse streets in Subiaco, in December last year for $17 million.
The proposed development will be known as Subi Strand and comprise 245 apartments and 19 shop fronts.
Managing director Darren Pateman said the development's approval was an exciting outcome for both the company and the site.
“The approval will allow a development that will ultimately result in the single largest individual project in terms of units and end value for the company to date,” he said.
“We are confident that the project’s facilities and central location within a vibrant area will be well accepted by the WA market.”
Apartment sales will be launched midway through next month, with construction to commence in the middle of next year.