Construction will soon begin on the cornerstone residential component of Circular Quay’s $3 billion Quay Quarter development following AMP Capital’s appointment of a contractor.
The privately-owned Richard Crookes Constructions was chosen to build the Loftus Lane apartments, a project comprising three low-rise buildings with no more than 40 apartments in each. The three buildings have separate architects: SJB for 15 Young Street, Silvester Fuller for 18 Loftus Street and Make Architecture for 8 Loftus Street.
“The appointment of RCC marks a significant step [for the] transformation of Circular Quay,” AMP Capital global head of real estate Carmel Hourigan said.
Bordered by Young and Loftus Street, the Loftus Lane apartments sold out within two hours following a successful marketing campaign in June 2017.
Richard Crookes chief executive George Bardas said that the Loftus Lane apartments signal the first state of the Quay Quarter precinct revitalisation.
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AMP Capital's Quay Quarter Sydney project, as a whole, is a mixed-use precinct in Circular Quay, spanning two inner city blocks and a site area of circa 11,000 square metres.
The Quay Quarter Sydney precinct will create Sydney's newest “urban neighbourhood”, including a diverse mix of commercial, retail and residential schemes. The development includes the redevelopment of AMP Capital’s Quay Quarter Tower and smaller scale buildings to house retail and dining, and commercial office accommodation.
Construction is expected to take approximately three years to complete the project.