Flinders Bank re-imagines the traditional terrace
The recently approved Flinders Bank development in Melbourne is joining a growing list of projects providing a contemporary take on the traditional terrace typology. A mainstay of Melbourne’s real estate market since the 1800s with its narrow, double-storey footprint and Victorian presence, the terrace house has had to evolve into an entirely different housing style, as Melburnians embrace apartment living.
This evolution of terraces into a unique offering within high-rise residential buildings is becoming increasingly prevalent along the northern banks of the Yarra River, where overshadowing controls are resulting in tapering roof forms. These city terraces are characterised by expansive and modern apartments which feature some of the largest outdoor living spaces around.
At Flinders Bank this new terrace product crowns the developments upper levels and features 16 two and three bedroom apartments with terraces, with view which encompass the Yarra River and Port Phillip Bay. Gone are the narrow hallways, replaced with oversized living spaces, bedrooms with walk in robes, ensuites and sitting areas and kitchens featuring butlers pantries.
Flinders Bank represents Century Group Aus' first project, reshaping a key gateway site on the corner of Flinders and Spencer into a mixed-use precinct designed by Fender Katsalidis that will add public open space, residential living, destination retail and a five-star hotel to the city's south-east corner.
Flinders Bank will also feature Australia's first St. Regis hotel comprising 168 luxury guest rooms and suites which will occupy levels 2 to 11 of a 33-storey tower. Century Group Aus expects St. Regis Melbourne will become an integral part of a vibrant pedestrian precinct and plaza along Siddeley Street, breathing new life into the south-west corner of Melbourne's CBD.
Other key developments in the area include Riverlee's mixed-use Seafarer's Place development which includes restoration of Shed No.5 and a 3,500sqm public park, a revamp of 627 Flinders Street and Lendlease's Melbourne Quarter.
Construction on Flinders Bank is set to commence next year with a completion date slated for 2022.
What they say...
That the terrace today means something completely different to what it did 100 or so years ago, is not a surprise. Architecture is a process of evolution and Melbourne’s CBD is undergoing a major architectural and locational evolution, orienting further westwards.
Today the modern terrace stands for contemporary apartment living that offers both an indoor and outdoor lifestyle. The new terrace considers the storage we need today for all our bits and pieces, its large kitchens and the expansive outdoor balconies are a tribute to how we love to entertain.
- Karl Fender, director Fender Katsalidis
We don’t expect them to last very long. Terraces are having a real moment in Melbourne right now as they offer modern floor plans that don’t compromise on size, as well as the type of large outdoor areas that homeowners in the leafy eastern suburbs are accustomed to.
More than that, these terraces crown an abundance of amenity that buyers aren’t getting in the traditional market, like pools, gyms and restaurants. Empty nesters and families feel they offer greater value than a house these days.
- Brett Griffith, Director, Colliers
