Private sector investment at the landmark Bowden housing project has topped more than $75 million with the announcement of a major multi-level residential development to be undertaken by Adelaide-based developer
The $15 million apartment complex is now on sale targeting first homebuyers, downsizers and investors.
Emmett Property’s plans for The Merchant in Adelaide, show 36 single-floor apartments to be constructed at varying levels up to three and five storeys high.
Registered buyers have already snapped up six pre-release apartments, including one- bedroom homes for $327,000, while two-bedroom residences are available from $412,000.
Emmett Property Managing Director Nick Emmett said the apartments had an average floor plate of almost 90 square metres plus large balconies.
“The Merchant apartments feature a relatively large floor plan and bigger balconies compared to many other apartment buildings, which we think will be a major drawcard for buyers,” said Mr Emmett.
“Smart design is the hallmark of these apartments. In keeping with the cool new vibe in Bowden, we wanted to combine innovation with the historical charm of the area – and we’re confident we’ve succeeded in achieving that.”
Construction of The Merchant, which will meet Bowden’s minimum 5 Star Green Star Design rating, should commence early next year and be completed by early 2016.
