Vicinity and Pellicano provide Monash with a development boost
Two major projects within City of Monash will provide the municipality with a development boost over coming years.
Construction will begin this month on The Glen's $490 million development, with Vicinity Centres and co-owners Perron Group officially launching the project yesterday. Marking 50 years of operation, 'The New Glen' will encompass 78,000 square metres of gross lettable area and will include a variety of new retail and entertainment options.
As part of the development that will be completed by 2020, a new Town Square will also be built. Urban.com.au highlighted the centre's revised plans late last year, which also allowed for as many as 539 new apartments to be created onsite across 3 separate buildings - no word was given yesterday on their status.
It is time that The Glen evolves to meet the changing needs of our customers. The New Glen will elevate the customer experience to create a boutique destination where food, fashion and people come together.
The centre’s architecture, featuring a dynamic ‘veil’ effect that unifies the entire project, is inspired by international trends, and the iconic Springvale Road façade is designed to engage the local community.
Angus McNaughton: CEO and Managing Director of Vicinity Centres
This development is all about delivering a boutique and well-crafted design, inspired by our discerning local community. While increasing in size, our objective is to ensure The New Glen remains intimate, accessible and convenient, with a casual sophistication.
Ross Robertson: Perron Group’s Chief Executive Officer
The new centre has been designed for easy access and navigation through a ‘race track’ configuration with several cross malls to improve sight lines.
The redevelopment will create an estimated 2,350 jobs, including 1,150 during construction and 1,200 permanent positions upon completion.
The New Glen will also act as a hub for the hundreds of additional apartments slated for Glen Waverley's Activity Centre.
In Oakleigh, diversified property group Pellicano is preparing to move ahead with an apartment development which it has christened Alke.
Valued at $53 million, Alke will include 95 apartments across two buildings divided by a communal residents’ terrace, along with retail at ground level. Designed by SJB Architects, Alke is a far grander expression than Pellicano's first residential project - twelve solid brick apartments in Oakleigh Street - which was completed in the suburb over 46 years ago.
Alke has been positioned to capture the local first home buyer and downsizer market.
Pellicano focuses on three main drivers for every project - quality design, in-demand location, and quality residential and lifestyle amenity.
The site for Alke is located on Atherton Road within Oakleigh’s retail precinct, just two minutes from Eaton Mall. The suburb is significant for Pellicano. We are proud to be returning to an area with such a rich culture and established heritage.
We see this development catering to residents in all walks of life. First home buyers, young professional renters, and downsizers who want the convenience of apartment living while staying within their local community can take advantage of this opportunity.
Pellicano Managing Director, Nando Pellicano
The building will join a growing list of apartment projects within Oakleigh, with construction set to commence in the second half of 2017.
