Mirvac commences construction at parkside Prince & Parade apartment development in Brunswick
Summary:
- Mirvac starts construction on Prince & Parade
- Construction of the 166 apartments expected to complete in mid to late 2026
- Mirvac inhouse construction team hopeful of topping out this year
- Third collaboration with Bates Smart following two award-winning parkside developments The Melbournian and The Eastbourne
Mirvac's third Melbourne parkside collaboration with acclaimed architecture firm Bates Smart is starting to come out of the ground.
The ASX-listed developer has officially commenced construction on Prince & Parade, their new Brunswick apartment development across from the 39-hectare Princes Park.
Mirvac's inhouse construction team has installed two cranes on the Park Street site, after completing demolition and excavating the two levels of basement car park last year. They will now work away throughout 2025 to build the structure, which will likely top out later this year.
Completion of the 166 one, two, three and four-bedroom apartments is slated for mid to late 2026.
The Location
The apartments so far have been the most popular with local owner-occupiers, who have been most attracted to Princes Park, home of Carlton Football Club, walking paths, sports grounds, and playgrounds, as well as the cafe culture in Brunswick and the neighbouring Parkville, Princes Hill, and Carlton.
There's been an influx of purchasers who are working in the medical industry in particular, given the development's proximity to several local hospitals. Prince & Parade's location has also proven favourable for academics who work at highly prestigious local universities like Melbourne University and RMIT.
The Design
Prince & Parade has been designed to orient the park, taking advantage of the 100 metre frontage to Park Street. The orientation means that residents will benefit from park views through the floor-to-ceiling glass.
It's been cleverly designed so it reaches a height of nine levels to the north building on Brunswick Road, and five levels on the south-facing building on Park Street. The building will feature a rooftop terrace with views over the park and the rest of Melbourne. There will also be a resident lounge and dining room,a library, full wellness studio, and a ground-floor retail space, expected to be a cafe.
In line with Mirvac’s push to be net positive carbon by 2030, Prince & Parade will be an all-electric building.
The Team
Mirvac has had parkside success previously when collaborating with Bates Smart at their Fitzroy Gardens development The Eastbourne, which won the 2020 UDIA High Density Development Award. They've also worked together on The Melburnian on St Kilda Rd, which too was a UDIA Award winner.
Landscape architect Jack Merlo has handled the landscaping of Prince & Parade. The rooftop terrace and central courtyards in particular will be enveloped in greenery. The courtyard will “provide a place of passive sanctuary, referencing the site's location opposite Princes Park,” Merlo said.
Prices at Prince & Parade start from $750,000.
