KUALA LUMPUR (Oct 20): Crown Group Australia has announced its latest offering — Artis Melbourne — to the media through an online media conference. This is the first time the name and design of the project were revealed. It will be officially launched in November.
Artis Melbourne is situated on 175 Sturt Street in Southbank, Melbourne, on a 2,070 sq m (0.51 acres) parcel and will offer 153 units in two towers (14 and 16 storeys). The layouts include one-, two- and three-bedroom, as well as penthouse apartments. Built-ups range from 45 sq m to 130 sq m. There are only three penthouses, whose sizes are between 222 and 229 sq m. The selling price will start from A$480,000. The project is jointly developed with Melbourne developer G3 Projects.
According to Crown Group chairman and CEO Iwan Sunito: “The fundamental reason why we want to grow into Melbourne is because more than 50% of our buyers ask if we have anything in Melbourne... and also Melbourne property is more affordable than Sydney’s.
“There is about a 20% to 30% price difference for people who want to invest in a two-bedroom unit. In Sydney it would be A$1.5 million but in Melbourne it could be less than A$1 million.”
When asked why he is deciding to launch the project in the current Covid-19 environment, he said: “Right now the evidence is showing that developers have stopped building and there is no significant launch from now till the end of the year. And demand is still there. It is a buyers market and it is the best time to buy with the market relatively subdued. So we thought we wanted to launch the project and priced it correctly, reflecting the time of the market right now.”
Designed by Koichi Takada Architects, Artis’ design was inspired by art in motion and clouds. Iwan said this artistic design will be embedded in the interiors of the development so that the art from outside will also flow inside.
There will be a 448 sq m community arts space for artistic endeavours, be it for social enterprise events, showcasing artwork from special needs individuals or presenting emerging young artists' works, according to Iwan. There will also be a 49 sq m retail space for a cafe.
Facilities include a rooftop lounge and garden, children’s play area, gym and indoor pool with undulating ceiling structures. There will be 140 car and 40 bicycle bays on Artis’ Level 4 podium.
The development is located 1.5km from Melbourne's CBD, 1km from Flinders Station and less than 1km from Melbourne University. Construction will start in July 2021 and is targeted to be completed in 2023.