Fitzroy Fitzroy - 63 apartments proposed for Chapter Group's Fitzroy development
A $95 million apartment building, dubbed “Fitzroy Fitzroy”, has been proposed by Melbourne developer Chapter Group.
The nine storey Smith Street project is set to have 63 apartments, ranging in price from $570,000 to $3.7 million, plus six townhouses.
It will have 575 square metres of ground floor retail space across three tenancies fronting Smith and Leicester streets, replacing the flagship Kathmandu store in Melbourne.
The mixed-use project at 411-421 Smith Street has been designed by architect, DKO with trapezoid shaped upper levels to accommodate setbacks.
There will also be 679 sqm of office space in the joint venture between Chapter, CDL Australia and Crema Group.
The mixed-use project with trapezoid shaped upper levels to accommodate setbacks. Image credit: DKO
CDL is a subsidiary of Singapore-listed City Developments, which has a pipeline of 800 units in Brisbane and Melbourne.
Chapter paid around $20 million for the 1820 sqm site in 2019 which contains a single and double-storey red brick interwar complex originally comprising a workshop and garage.
Its sale marketing advised the two tenants, Kathmandu & Bellboy were on leases expiring March 2022 paying $580,000pa.
Haus Apartments, at 416 Smith Street, directly opposite the site, has been redeveloped with an eight-storey residential tower with set back above a two-storey podium on the street.
Its recent projects have included Ukiyo at 2 Porter St, Prahran and Monument at 608 Orrong Rd, Armadale.
