Alke adds to City of Monash's multibillion dollar construction boom
Another big ticket development has rolled into construction, increasing the already impressive tally of sizeable projects at construction within the City of Monash which amount to billions of dollars of investment within the municipality.
Residential project Alke's commencement has boosted the already diverse big-ticket construction list within Monash. Commercial, residential, educational, aged care, large-scale retail and health builds are on the go within the municipality which is Victoria’s second largest economic and employment generator.
Developer Pellicano has brought forward construction of Alke six months ahead of initial expectations following a strong sales campaign. The $55 million SJB-designed residential development includes 89 apartments over three buildings and was launched to market in September 2017.
In what has become a commonplace practice of late Pellicano shrunk the number of apartments on the back of buyer demand; Alke initially included 115 apartments but was rejigged to include fewer but larger dwellings.
Pellicano's in-house construction arm has begun the build with an eye to reaching completion mid-2019. The three buildings include between 14-45 dwellings and are separated by a communal landscaped terrace.
Alke's commencement has seen it join a list of top flight projects currently under construction within City of Monash.
The diversified list at construction is headlined by the $1 billion M-City development; the project which is in the early stages of construction will become Melbourne’s largest mixed-use development outside of the CBD. Included is a sizeable commercial component, hotel, serviced apartments, extensive retail and hundreds of apartments.
Also high in value is Vicinity Centres' The Glen redevelopment which weighs in at $490 million. Probuild is currently undertaking works across the Glen Waverley retail hub.
Alke joins Galleria as the second large-scale residential project under construction in the municipality, with Hickory Group working on Galleria's basement levels on the way to eventually delivering 267 apartments, 9 retail spaces, 315 car spaces and 88 bike spaces.
From an education standpoint, builder Multiplex is well into Monash University's Biomedical Learning and Teaching building. The $100 million Denton Corker Marshall-designed project is expected to be completed late this year and features a unique facade.
The Biomedical Learning and Teaching building the latest in a string of big-ticket projects facilitated by Monash University over the past five years.
Poised to begin construction toward the end of the year is the new Victorian Heart Hospital opposite the Australian Synchrotron and partly funded by Monash University. Designed jointly by John Wardle Architects and Conrad Gargett, the $542 million project has been awarded to contractor John Holland.
