Stage one of Adelaide's Ergo development a sell out
The first stage of Adelaide’s inner-city development Ergo, comprising of 52 apartments, has been snapped up less than a year after being released to the market.
Located on Sturt Street, Ergo is developed by Hindmarsh Development and the Adelaide City Council, and features designs by Hames Sharley.
“Announcing that all apartments in the first stage release of Ergo are completely sold out is terrific news for purchasers and a major milestone for the project,” says Lord Mayor Stephen Yarwood.
“Ergo is a fantastic urban development breathing new life into the up-and-coming south-western quarter of the CBD.
"It’s been meticulously planned to increase the number and diversity of people living in the city, so the sales result is an excellent outcome,” says Yarwood.
Apartments in Ergo could be bought as part of the project’s federal government funding and innovative shared equity scheme the council developed with HomeStart.
“Being able to obtain funding through the Federal Government’s Housing Affordability Fund for a portion of the apartments at Ergo has certainly helped open the door to many young homebuyers,” says Yarwood.
“So in addition to the medium and higher end apartments within Ergo, the development is also catering for young first homebuyers who otherwise would be locked out of the inner-city property market,” says Yarwood.
“The south-western quarter of the Adelaide CBD is enjoying a real revival as a property hotspot, with Ergo representing a great opportunity for a range of homebuyers to secure the inner-city lifestyle they want,” says Hindmarch Development manager Morry Canala.
"Ergo is not your typical big box city development.
“Considerable effort has gone into the aesthetics of the buildings to make them visually appealing both inside and out, while the apartments themselves are spacious and really well spread out from a density perspective,” says Canala.
The project will also incorporate 20% public open space, including a central piazza and residents will feel secure with a bike storage and underground parking.
Upon completion, Ergo will comprise of 178 apartments.
