Central Element’s “ultra-luxury” 17-storey residential tower on Sydney's North Shore has been greenlit.
To be built on a site on the corner of 15 Ellis Street and 753 Pacific Highway, the building, dubbed Ethos, will comprise 49 apartments, in a mix of one, two and three bedrooms.
The tower has a projected end value of $150 million.
Plans for the tower, said to be the first new apartment development in the area in four years, were filed with Willoughby City Council back in June.
A joint venture between Central Element and MaxCap Group, the tower design is by SJB Architecture and SJB Interiors, whose design was picked via a design competition.
Central Element describes the site as a “wellness-led amenity” with a Wellness Studio and Sky Lounge for entertaining, which it says is a “strong drawcard” for buyers post-Covid.
SJB said that the site played an important role “in establishing both the edge of the city and a gateway to it”.
“In this regard we recognise the role the building can play in introducing visitors arriving along the Pacific Highway and the northern rail line to Chatswood,” the design statement said.
The plans approved by the Sydney North Planning Panel include the demolition of existing structures on the site,. Ethos is expected to be completed in 2024.
The sales campaign began in mid-2022 and the tower is now reportedly 60 per cent sold.
Ethos is the latest in a series of high-end apartments with added amenities and services focusing on wellness and entertainment that also includes Iwan Sunito’s proposed Macquarie Park site.
