What do “high net worth individuals” want in their primary residence? According to Devitt Property Group, the answer is privacy, security and convenience.
The group’s latest project, “The Muse”, is a 14-storey residential project located at the corner of St Kilda Road and Toorak Road West.
Devitt Property Group lodged plans for the 45-apartment development in September, with the development set to become the most high-tech residential building in the country.
Devitt Property Group director Kane Devitt told The Urban Developer the development, with a reported end value of $250 million, is receiving help from technical experts in order to “ensure both usability and adaptability into the future”.
Financing for the development is still yet to be finalised, and Devitt says that there may be some bridging finance required towards the end of the development, given the cost of developing such a high-tech building.
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The project will offer each of its 45 bespoke residences a home automation interface that will enable residents to customise their day-to-day life. Heating and cooling system operation, automated blind control and intelligent lighting controls are all automated to ensure the household is almost entirely self-managing.
The Muse will offer numberplate recognition technology that activates a lift for entry into each apartment. Air-conditioning systems are turned on, and any other requirements or wishes are taken care of. Other entry access to The Muse will be via biometric systems, facial recognition, fingerprint scanner recognition and a personalised “FOB swipe”.
An off-grid battery system will also be provided for the predicted increase in electric cars in the coming years.
Brian Mason, director of Waterman AHW, who are consulting on the project’s building services said that the level of integration that has been developed for The Muse is “unprecedented”.
“Residents will be able to tailor the level of integration of the interface technology within their residence to their individual needs, with the option of the entire household being automated,” Mason said.
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Security features include a 24 hour, on-site concierge, duress alarm systems, electronic access control system, CCTV system with facial recognition technology and intruder detection systems. This service also provides commercial refrigeration to take deliveries of wines, meat, fish and groceries.
The Muse apartments will range in size from 200sq m to more than 1000sq m. While pricing is yet to be finalised, invitees into the display suite will need a minimum of $2,500,000, with the 1000sq m penthouse likely to come with a price tag of more than $40 million.
Other features include a 20-metre lap pool, relaxation pool and spa, large gymnasium with sauna and steam rooms, and a residents’ club lounge with private meeting rooms.
Pending planning approval, the development is due to be completed in late 2020.