Meriton founder Harry Triguboff’s grandson, Ariel Hendler, is following in his famous grandfather’s footsteps with the launch of boutique development project “Escada” in Sydney’s Mascot.
Taking advantage of the market demand for luxury apartment offerings the 12- storey building will offer 104 designer residential apartments.
The 131 O’Riordan Street site was purchased for $25 million in February and spans 2362 square metres.
Just this month Meriton announced plans to boost the height of its latest tower ‘The Retreat’ citing “unprecedented demand” for its masterplanned Sydney Olympic Park offering.
The 2018 Financial Review Rich List estimated Triguboff’s fortune at $12.77 billion in May, ranking him as Australia’s second-wealthiest person.
The Escada residential development marks the second project for Meriton’s boutique portfolio, following the 46-apartment VIDA boutique project also situated in blooming Mascot.
“We felt boutique luxury was a space in the market that was being neglected and the VIDA result proved we were spot on,” Hendler said of the sellout project.
Architects DKO created the Escada design, that will come in one, two and three-bedroom apartments along with seven tiled rooftop terrace penthouses.
The facade will feature a contemporary sawtooth roofline, which DKO’s Wieger Meijer says gives “the building a distinct silhouette”.
Mascot sits five kilometres from Sydney’s CBD, with the development sitting between Lionel Bowen Park and the future Mascot Linear Park.
“As more shops, restaurants, cafes and childcare centres have been added, it’s become very much a lifestyle choice for buyers and tenants.,” Hendler said.
Hendler says the first floor will be a “green haven” or outdoor leisure space for residents, comprising lawns, gardens and trees.
The private company, established in 1963, has designed, developed and built more than 75,000 apartments across the east coast of Australia.