Rated one of Sydney’s most in demand suburbs, Erskineville is about to receive a boost to its housing stock.
LaSalle Investment Management have just received DA approval for the final stage of their popular Erko residential estate East at Erko.
The anticipated final release will comprise 41 apartments in a seven-storey building on the eastern boundary, fronting Pearl and Metters Streets in Sydney's Erskineville.
Following the success of the first two stages of the 1.6-hectare development comprising 263 apartments, East at Erko will have a mixture of one bedroom, one bedroom plus study, and two bedroom apartments, priced from $495,000.
Gavin Tonnet, National Head of Residential at Leighton Properties said, “Our central vision for Erko was creating a functional and sustainable community that complemented the established character of Erskineville".
East at Erko was designed by SJB in collaboration with DC8 Studio, has been designed with a compact profile, a rendered masonry façade and robust natural finishes.
“We’ve designed each apartment with an emphasis on open-plan living,” said Nick Hatzi from SJB Architects. “High ceilings and smart design create generous spaces while deep terraces and shading devices improve privacy and enable residents to modulate their environments.”
Research by CBRE shows that the median price of an apartment in Erskineville has risen by 15.7% over the past year to December 2013, with forecasted population growth of 2.0% per annum to June 2016 for City of Sydney Local Government Area to assist capital growth.
“We have a number of people on our waiting list for East at Erko who missed out on the earlier releases,” said Tim Rees from CBRE.
"There is still a significant shortfall in inner-city housing, and Erskineville is one of Sydney’s best up and coming suburbs.”
Completion of the first two stages of Erko is expected by the end of this year, along with new laneways, cycle paths, footpaths and public parks. Ashmore Terraces, comprising 16 Torrens Title terraces on the northern boundary of the site – will begin construction mid-year.
East at Erko has a planned release of March this year.