Kincaid Projects

First home buyers have been eyeing the affordable off-the-plan apartments in Cultivate, the latest development in Heidelberg West by the developer Kincaid.

The prominent architecture firm DKO have designed the apartments, which start from as low as $369,000.

The two-bedroom apartments start from $479,000, over $130,000 less than Heidelberg&nbsp;West&#39;s&nbsp;median two-bedroom apartment price of $610,000.

[smartcode_project:default project_id=628 project_image_fid=174207]

Cultivate, toward the tree-lined top of Bell Street, comprises 146 one, two and three-bedroom apartments across two towers.

Most apartments will offer views to the CBD or Dandenong Ranges. There will be a communal garden on the top of the southern tower and on top of the podium that connects the two towers.

Cultivate has a walkscore of 80, representing a very walkable neighbourhood with easy access to decorated educational institutions like La Trobe University, the RMIT Bundoora Campus, Our Lady of Mercy College, Ivanhoe Grammar School and Ivanhoe Girls&#39; Grammar School.

[smartcode_project:default project_id=628 project_image_fid=178983]

It is located just 12km north east of Melbourne&rsquo;s CBD, which is accessible via a range of public transport options. The conveniently located&nbsp;freeway provides easy access to get out of Melbourne, linking to the&nbsp;Mornington Peninsula and the Yarra Valley winery region, while the Eastern Freeway makes the CBD easily accessible.

The nearby Yarra Valley Parklands offer a diverse range of activity, golf courses, bike paths &amp; canoeing along the Yarra River.

West Heidelberg is part of a National Employment and Innovation Cluster, as identified by the Victorian Planning Authority, and is home to some of Melbourne&rsquo;s largest medical and research centres.

[smartcode_project_cta: project_id=628]

First home buyers have been eyeing the affordable off-the-plan apartments in Cultivate, beating out much of the established competitors in Heidelberg West

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Kincaid offering first home buyer entry to Heidelberg West, with affordable Cultivate apartment development

Investors have been witness to the growing attractiveness of Melbourne&rsquo;s Heidelberg&nbsp;West in recent years, as the ramping government expenditure totalling more than half a billion dollars has started to snowball the suburb&#39;s underlying value.

Heidelberg West apartments have seen 5.3 per cent price growth per annum over the past 10 years, according to SQM Research. Population growth has been similarly steady, up 1.3 per cent per annum for the past decade, ABS and Urbis data found.

Demographics in the Heidelberg West area reflect a younger age demographic, with a higher proportion of residents renting their property. Some 59 percent of residents are renters, more than double the 28 per cent in Greater Melbourne average.

[smartcode_project:default project_id=628 project_image_fid=178962]

And there&rsquo;s potential for further growth in the area due to the $160 million Olympia Housing Initiative, which is set to revitalise housing in Heidelberg West, Heidelberg Heights and Bellfield. Outdated public housing is being replaced by more housing more appropriate to local demographics.

There&rsquo;s also the proposition of the $50 million redeveloped town square in Heidelberg West, as well as $210 million development in neighbouring Ivanhoe of an 8,900 sqm site that will include residential, aged care and child care facilities.

Growth in median weekly rents has been steady in the Heidelberg West/Heidelberg rental area over the past decade. Data indicates that one-bedroom units achieved the strongest growth, at 6.5% per annum for the last 10 years. This is above the Greater Melbourne average of 5%. Over the same period, two and three bedroom units grew at 5.2% and 4.3% per annum respectively, indicating continued demand for rental units across all sizes.

[smartcode_project:default project_id=628 project_image_fid=174210]

Heidelberg West has the lowest rental vacancy rate among the surrounding suburbs, currently at 1.3%.&nbsp;

Cultivate, at 294 Bell Street, has a walk score of 80, indicating a very walkable neighbourhood with easy access to grammar schools and colleges, universities, hospitals, research hubs and major retail centres. It also has extensive transport links and a direct road network.

[smartcode_project:default project_id=628 project_image_fid=178965]

Cultivate is located 12km north east of Melbourne&rsquo;s CBD. It is close to a range of employment, education, retail and services hubs including:&nbsp;

<ul>
	<li>Northland Shopping Centre</li>
	<li>Heidelberg Activity Centre</li>
	<li>Biomedical Alliance Precinct Specialised Activity Centre</li>
	<li>La Trobe University Bundoora</li>
</ul>

The proportion of residents working in white collar roles has been on the rise in Heidelberg West. The young age profile, high proportion of renters and prevalence of lone person households, is supportive of demand for apartment housing.&nbsp;

This is typical of a suburb that is undergoing gentrification and the same trend is evident in the adjacent suburbs nearer the Melbourne CBD, which have seen healthy price growth. It was even named a National Employment and Innovation Cluster by the Victorian Planning Authority.

National Employment Clusters are defined as, designated geographic concentrations of interconnected businesses and institutions that make a major contribution to the national economy and Melbourne&rsquo;s position as a global city.

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Demographics in the Heidelberg West area reflect a younger age demographic, with a higher proportion of residents renting their property

Why investors are keen on Heidelberg West apartments, Cultivate

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Located at the juncture of Thornbury and Preston, and occupying the site address of 9 High Street from which the project derives its name, Nine High is an 8-storey development of 68 apartments by <a href="http://kincaidprojects.com.au/">Kincaid Projects</a> and <a href="http://optimusdevelopments.com.au/">Optimus Developments</a>.

Sitting on the crest of Thornbury Hill with views down High Street, Nine High is a custom designed residential development that seeks to create a sense of place by embracing the rapidly gentrifying Thornbury community. According to the development team the location as a destination is critical to ensuring the project's success in addition to providing a quality product.

Those familiar with the rapidly changing face of the area will be aware of the distinct lack of design character shown by the majority of recent apartment developments completed nearby; something which Kincaid Projects and Optimus Developments have sought to address.

Nine High is a collaboration between Kincaid's in-house designer Joel Martin with <a href="http://www.eadesandbergman.com/">Eades &amp; Bergman</a>'s Wendy Bergman casting her eye over the interior specifications and layouts. Best known as the designer for some of Melbourne's newest hip eateries such as Kong or Meaball &amp; Winebar, Wendy has sought to flood apartments with natural light via a series of atriums and lightwells which puncture the building's volume.

The project team envisions Nine High becoming a benchmark building for the area and an architectural statement with its refined angles expressed in contemporary materials such as off-form concrete, Modwood Soffits, Alucobond cladding and black and gold metallic screens. The building's facade is animated via these operable screens which gives the exterior a kinetic rather than static quality.

The introduction of vegetation to the facade is designed to bring with it a sense of colour and vibrancy and soften the structure while contributing to resident wellbeing.

<blockquote>
Our design vision for Nine High was to create apartments where people can feel connected and develop their own sense of place. We've worked creatively with proportions, angles and materials, filled it with natural light and vegetation.

We believe our use of lush greenery, attractive materials and an elegant colour palette will raise the bar in Thornbury.
<cite>Joel Martin, Designer, Kincaid Projects</cite>
</blockquote>

Designed to be both versatile and functional, Nine High's apartments feature open plan, free flowing living configurations, customised fittings, a feature double-sized pantry and extra large balconies for entertaining, plus garden areas an landscaping designed by Urban Edge. Additionally storage cages are located conveniently on the same floors as apartments rather than with the parking areas.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nine_high_interior.jpg" rel="gallery-all" title="Nine High Interior. © Kincaid Projects"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/nine_high_interior.jpg?itok=5Dpy9Qys" title="Nine High Interior. © Kincaid Projects" width="580"></a>

<figcaption>Nine High Interior. Image courtesy Kincaid Projects</figcaption></figure>Kitchens are arranged in a u-configuration and feature dual purpose benchtops which also act as dining tables reducing the requirement for a separate dining table. The apartments also feature other artisenal detailing in the form of custom-made metal pocket shelving within the bathrooms, bento box-inspired vanity tops and wine rack storage in kitchens.

The 68 apartments consist of one, two and three bedroom options with prices starting at $299,000 for a one bedroom apartment to $450,000 for two bedrooms which translates to a rate of $7,500 per square metre. Two retail tenancies will be located at ground level taking advantage of the City of Darebin's streetscape improvement plans for High Street which sees the reduction in number of traffic lanes and provision of bicycle lanes in lieu.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/high_street_streetscape.jpg" rel="gallery-all" title="High Street improvement works. Courtesy City of Darebin."><img alt="" class="image-article-full-width-580px" height="408" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/high_street_streetscape.jpg?itok=gmoy_GJp" title="High Street improvement works. Courtesy City of Darebin." width="580"></a>

<figcaption>High Street improvement works. Courtesy City of Darebin.</figcaption></figure><h2>What they say</h2>

<blockquote>
We chose to develop Nine High in the heart of Thornbury-Preston as this is a vibrant part of Melbourne. With its proximity to the city, public transport and High Street's eclectic shops, this strip is full of enterprising young creatives that share our appreciation for this area.

We want to be a part of what's happening, and we're really excited by our vision for Nine High. It's not just another apartment building; it's a unique beautifully designed space that will be a joy to live in, and we're proud to put our names to it.
<cite>Kris Burt, Director Kincaid Projects</cite>
</blockquote>

<blockquote>
Nine High is exactly the right match for us. A project that is not only tempting for the investor's eye, but more importantly a place we, ourselves, would also enjoy calling home. First of all, the location of the rapidly gentrifying Preston-Thornbury area is perfect. On my first site visit I was immediately amazed by the bustling, lively strip of High Street, full of little cafes and shops, just a stone's throw from Nine High.

Second, the building itself is outstanding, with an exterior that will attract the attention of any passer-by, and a beautiful interior design that will fulfill all expectations of even the most discerning buyers. Nine High is so much more than just a great project and we are extremely proud to be involved in its creation.
<cite>Andrew Karpati, CEO Optimus Developments</cite>
</blockquote>

The project has already been well received before its official launch. Onsite hoardings have generated a lot of interest from potential buyers with 60 inquiries being fielded and 10 apartments being reserved over a two day period.

<iframe allowfullscreen="" frameborder="0" height="281" mozallowfullscreen="" scrolling="no" src="https://player.vimeo.com/video/130284174" webkitallowfullscreen="" width="100%"></iframe>

<a href="https://www.propertyobserver.com.au/https://vimeo.com/130284174">Nine High</a> from <a href="https://vimeo.com/user37228590">The Bowery Collective</a> on <a href="https://vimeo.com">Vimeo</a>.
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