CEDAR Woods broke ground on its luxury North Melbourne townhouse development 88 Leveson last week, with Burbank Urban commencing work on the project.
88 Leveson, sitting around 2km north-west of the CBD, will comprise 15 architecturally designed three- and four-bedroom townhouses by Genton Architecture, with each including individual carparking and a private rooftop terrace.
The ASX-listed developer has a long-standing relationship with the Melbourne builder appointed to deliver the project, with the sod turning marking the latest project of Cedar Woods in Victoria added to Burbank Urban’s portfolio.
“Burbank Urban is a proven performer in the residential sector, having delivered a number of innovative projects across their portfolio. Their consistent delivery of quality products offers purchasers confidence in the offering that 88 Leveson presents,” said James Bovell, Victorian development director at Cedar Woods.
The project is targeting increased demand from owner-occupiers looking for amenity-driven CBD-fringe locations such as North Melbourne.
“It’s an exciting time to be building in North Melbourne. The area is going through transformation, yet still retains the rich character and history of its industrial past. This is finding interest with a broad range of homebuyers, who see value in the project and area to suit their unique lifestyles and circumstances,” added Bovell.
Mark Dayman, director at Marshall White, is currently receiving diverse homebuyer interest for the project, with purchasers including downsizers, families and couples so far.
“88 Leveson was launched to a very receptive audience. The location enjoys proximity to Melbourne’s CBD as well as its adjacency to an array of boutique restaurants and shops in the heart of what is fast becoming one of the city’s trendiest suburbs,” said Dayman.
88 Leveson’s position in the heart of North Melbourne, also leaves future residents in walking distance of universities, hospitals and the iconic Queen Victoria Market.
“North Melbourne showcases iconic heritage elements unique to the identity of Melbourne, and this is something that purchasers love about the location. The larger and higher priced-residences in 88 Leveson have been the first to sell which is a rare feat for luxury off-the-plan developments,” added Dayman.
The ground breaking was marked with a stakeholder event held last week on 3 November, with Bovell and Burbank Urban’s national general manager Michael Battistella in attendance.
