Apartments spur Glen Eira's construction boom
Glen Eira is currently the number one municipality outside of City of Melbourne in terms of the number of apartment projects at construction.
Edging out Stonnington, Moreland and Port Phillip, Urban.com.au is tracking 25 noteworthy projects with 10 or more dwellings that are now in the hands of builders. Carnegie and Bentleigh are driving Glen Eira's construction boom, with the typical project between 4-6 levels and for the most likely to contain approximately 40 apartments.
Whilst it may not be the highest number of apartments under construction in any given municipality, Glen Eira's leading project at construction count sees 1,348 dwellings heading toward completion.
The everyday small
Glen Eira's zoning has for the most ruled out apartment projects beyond the 4-6 level bracket, although this has done little to dampen developers enthusiasm for the municipality.
Local developer Steller is by far and away the most active developer within Glen Eira, and their current project list reflects this. Steller has a half dozen project at construction across Carnegie, Glen Huntly and Bentleigh, reinforcing their liking for the area which has seen them create more three bedroom apartments in the municipality than any other developer.
The municipality is also not without international interest as three Malaysian-backed development firms are overseeing current builds in Carnegie. Matrix Concepts Holdings Berhad is behind M Carnegie, SP Setia is developing Maison and MRCB Land is jointly developing 1060 Carnegie with Chinese-linked partner Fortune Property Group.
The latter project is due to commence construction immediately.
Big and bigger
Two apartment projects comprehensively rule the roost for size relative to all other projects at construction within Glen Eira.
Hacer Group will soon have The Mark, Elsternwick at 441-461 Glen Huntly Road excavated to its third basement level. Over the next 12-14 months, 173 new apartments will be built above and alongside a new Coles Supermarket and Liquorland outlet.
Larger still is the second stage of Caulfield Village which is BECK Property Group and Probuild's joint development of formerly vacant land adjacent to Caulfield Racecourse. With Caulfield Heath completed last year, a third tower crane will soon appear on the current build which sees 390 apartments across 4 buildings spanning up to 10 levels in height.
Ultimately the development partnership will introduce varies uses such as retail and services in future stages, in addition to the 1,500 apartments envisaged.
