THE revitalisation of former industrial land at South Beach in South Fremantle has passed a key milestone, as national property developer Stockland expects residents to move into its Islands apartment complex by year's end.
Residents have already begun to move into Stockland and state development agency LandCorp's 400-lot South Beach Village subdivision, located at the same site in South Fremantle.
LandCorp's portion of the development is almost complete, with just five lots remaining for development and sale, and 10 per cent of homes already constructed.
LandCorp general manager metro Luke Willcock said more than $100 million of investment had occurred at the state developer's portion of South Beach Village.
“This amount includes the purchase of the land, remediation, civil works, landscaping, land sales and dwelling construction on the lots," he said.
“The development also generates increased rate revenue for Fremantle and Cockburn councils."
Stockland is currently seeking expressions of interest for a further 67 residential blocks for stage three of the village.
Civil works have commenced for Stage 3A of the estate, which is the creation of 22 residential lots, and a group housing site.
The jewel in Stockland's crown at South Beach, however, is its Islands apartment complex.
The Islands development is more than 100 residences, including a mix of apartments, penthouses and beach houses.
Earlier this month, Stockland announced a key milestone for the project - the scaffolding had come down.
Stockland expects the first residents to move into Islands towards the end of the year, while it has started marketing of the cafe tenancy at Islands.
Elsewhere at South Beach, boutique developer MATCH's The Summer apartments project will be formally launched to the public in November.
The Summer consists of 36 residences, including a mix of two-level, three-bedroom loft-style apartments and one- or two-bedroom apartments.
Construction of The Summer is scheduled to commence in March 2010, while MATCH has secured 20 per cent in apartment pre-sales.
MATCH managing director Lloyd Clark told WA Business News The Summer offered a diverse mix of accommodation to cater for a broad range of buyers including families, empty-nesters and single professionals.
He said The Summer was priced to be more affordable than other developments at South Beach, which he said were targeted at the premium end of the market.
Two other group-housing sites at South Beach are subject to a partnership arrangement between LandCorp and Cape Bouvard Investments.
Construction and settlement has been completed at one of the sites, The Vueze high-end apartment project.
The Vueze is a five-level apartment building comprising of 17 two- and three-bedroom apartments.
All 17 apartments at The Vueze were sold off the plan in 2007.
The second group housing site, another high-end apartment building, The Cibao, has been put on hold by the developer until further notice.
Sustainability has been a major theme throughout the South Beach redevelopment, with the project developers receiving commendations and national recognition for their commitment to sustainable, environmentally friendly building practices.
This commitment was a major challenge because the South Beach site is on former industrial land, including rail marshalling yards, a tip and a foundry.
In April this year the Urban Development Institute of Australia awarded South Beach Village with its top residential development award at the UDIA's annual national awards for excellence.
The UDIA also awarded Stockland and LandCorp the national award for excellence in the categories of residential development over 150 lots and medium-density housing.
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