Founded in 1965 by Eric A. Koundouris AM, K2 Development Group focuses on property construction and development, including luxury residential, medium, and high-density apartments, commercial, retail, and corporate design. Most recently winning the Australian Structural Engineers Award, K2 is currently developing the Estelle, located at 67-69 Penkivil Street in Bondi. This four-level low-rise was designed by MHN Design Union and has achieved the Green Building Council of Australia 5 Star Green Star Rating.