RESPONDING to the recent sales success of its first release of apartments in the Allegro residential tower, Mirvac Fini is moving quickly to release the second stage of The Peninsula to the property market and finally begin construction on site.
The up-market developer has brought forward the release of its second residential tower and plans to begin construction on the first apartment tower in April. Construction on its first release of green-titled housing, infrastructure and public parks will also begin in July this year.
Mirvac Fini senior development manager Paul Lakey said the success of the first residential tower indicated that there was strong demand in the Perth market for quality product in good locations.
Mr Lakey said the first stage of the green-titled housing and public parks would be constructed around the entry to The Peninsula.
“We want to create the heart of the development as quickly as we can,” he said.
Up to 70 green-titled buildings will be constructed, however these properties will not be sold until completed in early 2005.
“This year and next will see a lot of construction on the site,” Mr Lakey said.
He said the pace of the development would be responsive to the market, which still had strong demand for locations with good amenity.
“We can build as quickly as the market tells us.”
When completed, The Peninsula will have about 1,200 dwellings and be home to around 3,000 people.
