FIFTEEN85 is Fishermans Bend's first major launch of 2018
Against a backdrop of planning uncertainty, delayed projects and legal wrangling, Singapore-based developer Chip Eng Seng Corporation is pushing through with Fishermans Bend's first tower launch for the year.
Having taken the sprawling near 6,000 square metre site off fellow developer BPM's hands, Chip Eng Seng Corporation is utilising local development arm CEL Australia (CES Gladstone) to push on with the marketing of the project's first stage.
The site transaction was completed during 2016 at a price of $52 million and included approval for 742 residential apartments over three towers.
The project's inception began during 2014 with a then Hayball-designed scheme heading to planning. Post initial approval Elenberg Fraser was enlisted to tweak the tri-towered design into what will is being released for sale.
222 new apartments are included across FIFTEEN85's initial release which is the westernmost cobalt blue tower of the trio. According to marketing material, the overall design has been influenced by American glass artist Josiah McElheny's works, with transparency a feature.
The development's podium levels are laden with greenery, tying the project in with the adjoining 8,000 square metre Montague Park which is currently under construction.
Internally FIFTEEN85 will include a residents lounge, podium top outdoor terrace, gym, dining area plus a range of one, two and three bedroom apartments.
FIFTEEN85 will join a trio of other apartment projects now at sales within Fishermans Bend. Ruiyi Australia's South and Portal Properties' Vivid both have long-running sales campaigns whilst SPEC Property's Lilix is currently being offered via channel sales.
Third Street's PM Port Melbourne is the remaining active project and has been awarded to Hutchinson Builders. It is the only project headed for construction in the urban renewal area, which would have had arguably far more projects at sales but for the extensive planning review of the precinct which is expected to tip into next year.
The changing planning goal posts has prompted Third Street to initiate legal proceedings in order to push through two additional projects.
Planning uncertainty has seen developments such as FIFTEEN85 advance as planned whilst others have effectively been scrapped.
