Hutchinson Builders is dipping back into residential construction for DeMartini Fletcher and Holm Developments’ $79-million Tweed coast project.
The Pama Casuarina is the only residential project Hutchies has in NSW after knocking back $7-billion worth of work to focus on other building sectors.
The four-storey development with 47 apartments was approved in mid-2022 for a 4038sq m site at 5 Grand Parade, the first complex to be zoned for permanent residents in the area.
The project is in the home town of Hutchinson Builders chief operating officer and director Paul Hart.
“We are always quite discerning with the projects we take on, and Pama is precisely the standard of quality architecture that we are proud to bring to Casuarina,” Hart said.
“Being a local and having lived in Casuarina for 20 years, this is a project that I am passionate about and I believe that once complete, it will be a great addition to the area.”
Plus Architect and fellow Casuarina resident Danny Juric was behind the plans, which included two, three and four-bedroom apartments across the complex.
There is also a pool with a wet deck and cabana area, barbeques with a kitchen and bar area and outdoor showers in the design.
The vacancy rate of Casuarina sits at 1.8 per cent with supply down 30 per cent since 2021, according to CBRE, as prices across the broader northern NSW region boomed in recent years.
CBRE residential projects Nicholas Clydsdale said there was significant pent-up demand, which had led to a $55-million sales spree.
“Pama certainly fills a gap in the Casuarina market for owner-occupier apartments as up until now the only way to live in the area year round has been through a freehold property,” Clydsdale said.
“Most high-density offerings fall under a serviced apartment scenario.
“With the median price for an average house in Casuarina now well over $2 million, residential options had been limited until Pama entered the market.”
DeMartini Fletcher and Holm Developments have separately completed a significant portfolio of residential developments on sites between the Tweed and Sunshine coasts.
The Pama Casuarina project started in March and is scheduled for completion by the first quarter of 2025.
