Developer Visionary has announced the final stage of its $260 million mixed-use community in Sydney's south-east.
The project, S Pagewood by Silkari, will see 256 new dwellings, with a mix of townhouses and units, on completion as part of the revitalisation of the south-eastern former industrial suburb of Pagewood.
The final stage, known as The Silkwood Collection, includes 60 high specification homes. Within this collection are 12 three-storey, three-bedroom townhouses complete with their own street-level entry.
Visionary purchased the 19,000sq m site, at 32 Page street, in 2016 from Robert Magid for $41 million.
Visionary has residential portfolio of five sites, totalling 1200 dwellings, with a gross development value of around $2 billion.
Due to its industrial heritage, the developer believes Pagewood offers an affordable alternative to similar nearby suburbs within the eight-kilometre radius of Sydney's CBD.
Visionary's Benny Song said Pagewood is part of Sydney’s thriving eastern suburbs.
"It is not only within easy reach of established amenities, it is on the doorstep of ongoing growth.”
Increasing land prices in the area have seen industrial warehouses abandoned, leaving a gateway for residential developers.
“In as little as five years from now, Pagewood will look quite different. It will become a lot more urbanised – a lot less industrial, with more residential, cafes, restaurants and shopping,” Song said.