Construction has commenced at Waterline Place at Williamstown. The former site of the Port Phillip Woollen Mills is being revitalised into 700 apartments and townhomes in one of Melbourne’s favourite suburbs.
This week marks the official start of construction and nearly a year to the day since AVJennings purchased the site.
Construction starts on stages 1 & 2 at Waterline Place which will become 83 apartments, 7 townhomes and a retail precinct designed by SJB Architects.
With the average price of homes in Williamstown at $1.15 million, Waterline Place will offer a range of varying housing options so young people are not priced out of the area they grew up in and retirees have choices if they wish to downsize.
“Waterline Place will enhance the local community. We will be giving people choice in moving or staying in an area they love. AVJennings is committed to delivering a community that will enhance the established neighbourhood,” says CEO Peter Summers.
So far of the 80% of apartments sold the buyers have been locals living within a 5km radius and empty nesters.
“Waterline Place is AVJennings' first major city fringe project in Victoria for some time. We look forward to offering the community a range of housing choices from one and two bedroom apartments through to luxury townhomes. The project will provide a significant increase and diversification in AVJennings’ Victorian business and shows the confidence we have in the property market," Mr Summers said.
“With recent planning changes in Victoria, AVJennings is very positive about the state of the property market with increasing population growth, low interest rates and relatively stable employment."
The first residents are expected to be moving into Waterline Place towards the end of 2017.
