Gravity Tower poised to become Fishermans Bend's first build
Could this be Fishermans Bend's first tower to reach construction? A planning application first highlighted on Urban.com.au during August 2013 looks likely to take the title of Fishermans Bend's first project to become reality.
91 Montague Street, now better known as Gravity Tower @ 89 Gladstone Street is the latest project to be delivered by assiduous Melbourne-based developer Blue Earth Group. In line with Blue Earth Group's business plan the tower won't proceed to retail sales, but will be moved as investment stock nationally via a network of partners as per their previous projects.
Gravity Tower itself is a 28 level building designed by Plus Architecture which carries 144 residential apartments according to Blue Wealth Property's due diligence report on the project. One bedroom apartments begin from $405,000 at 51sqm whilst dual bedroom apartments begin at $549,000 and 68sqm as shown in the due diligence document.
Chinese website Yeeyi is also carrying sales material for the tower which shows a rooftop communal area, open air cinema and plunge pool whilst a retail space will be included at ground level. Given Gravity Tower looks set to be the first project within Fishermans Bend to reach construction, it will be afforded unfettered views upon completion.
Gravity Tower may not be alone for long with a number of additional projects within the Urban Renewal Area looking for imminent sales launches. Guangzhou-based R&F Properties heads the list as it's reportedly preparing for the launch of 60-82 Johnson Street following its acquisition of the site during 2014.
There is to a degree an implied assumption that Gravity Tower will proceed to construction based upon the previous work of Blue Earth Group; the company has become adept at advancing projects to construction with very little if any public knowledge of the project.
Recently competed apartment complexes by Blue Earth Group include Geox, Stratus and Mink Essendon whilst their current project, A Apartments at 92 Albert Street East Brunswick, is under construction and would have escaped public attention but for its listing on Urban.com.au. In addition Blue Earth Group look to have found a willing cohort with Hamilton Marino undertaking their five most recent builds, hinting that Gravity Tower is indeed close to reality and that a builder may well be in place.
