Reve Group file for new four-tower development in Castle Hill
Luxury home builder turned multi-residential apartment developer, Kassis Homes, has revealed what intends to do with their prime Castle Hill site they secured earlier this year.
Under their new development arm Reve Group, Sam Kassis and business partner Romio Georges are planning a four-tower development on a sprawling 9,074 sqm site that cost about $80 million to amalgamate.
They're seeking to develop three residential towers, with 264 apartments, and a hotel tower.
"We've been building in the area for three decades, and we're passionate about delivering high-quality residential living to Castle Hill," Sam Kassis told Urban.
Kassis is currently delivering Grand Reve, one of the most impressive apartment developments Castle Hill has seen, just next door to the new project.
Grand Reve is the first development in Castle Hill to have the Resilience Latent Defects Insurance policy, the new insurance that protects apartment owners from any structural defects of the building for 10 years post-completion. The policy is far and away the most comprehensive insurance new and off the plan apartment buyers can access.
"We want to give our purchasers something no one else offers," Kassis added.
"We're matching high-quality finishes and well-thought-out configurations with buyer confidence. Buyers can be safe in the knowledge they're purchasing from a well-respected developer, who has gone the extra mile to take out Latent Defects Insurance to make them feel comfortable in their purchase."
The new development will again offer a range of configurations. Across the 19, 22 and 23-level residential buildings will be 50 one-beds, 147 two-bed apartments, 56 three-beds and 11 four-bed apartments.
The one-beds range in size from 50 sqm to 74 sqm internally. The two's start from 75 sqm and top out at 116 sqm, while the three-bed offer between 111 sqm and 203 sqm of internal living space.
The 11 four-bedroom apartments have between 154 sqm and 253 sqm.
The hotel will have 143 rooms in a 19-level building. 474 parking spaces will be provided, and 136 motorbike and bicycle spaces.
To be called Grand Reve II, at 22-26 Garthowen Crescent and 20-34 Old Castle Hill Road, has been designed by Turner, with extensive landscaping by landscape architect Land and Form.
Land and Form said the goal is to "create a biophilic landscape sanctuary, immersed in nature."
"At an elevation of approximately 100m above sea level, the Site is located on one of the highest points in north west Sydney, making it a prominent location with the opportunity to develop as a marker within its context via built form and landscape outcomes that demonstrate design excellence and facilitate key government-led place making priorities," the documentation noted.
The Economic Impact Assessment by HillPDA Consulting said the 264 apartments is projected to house 560 residents, leading to an estimated annual household expenditure of $11.2 million. They believe around $8.7 million will be spent at local businesses, with Castle Towers likely benefiting most.
"This development will support local retail and commercial businesses, indirectly create jobs, and meet increased retail demand," the report noted.
"The on-site retail space, due to its small scale, will complement rather than compete with other local centres and will likely direct surplus expenditure to nearby retailers."
The $166 million design and construction phase of the development is expected to generate around 1,278 jobs.
