This article is from the Australian Property Journal archive
CONSTRUCTION on Lendlease Retirement Living’s Richmond development, Gramercy Terraces, is now underway, following a sod-turn and smoking ceremony.
Gramercy Terraces will be part of a new intergenerational living precinct in Melbourne, located on Bendigo and Khartoum Streets and comprising 31 three- to four-level freehold residences.
“Gramercy Terraces are part of a new product offering for Lendlease Retirement Living,” said Nathan Cockerill, managing director of retirement living at Lendlease.
The new offerings, which will span three- to four-bedrooms, will be the residential element of the new precinct, sitting adjacent to Lendlease’s luxury retirement living community, Ardency Kennedy Place.
“They add the residential component of our intergenerational living precinct in Richmond and will neighbour Ardency Kennedy Place, our luxury, independent retirement living community currently under construction, and a future aged care site is also planned to offer a continuum of care for residents as their needs increase,” said Cockerill.
Gramercy Terraces are being developed by Lendlease and being delivered by Balmain & Co, with the offerings design making reference to the locality’s red brick Federation history, as well as the former Nine Network studio and the Wertheim Piano factory.
The precinct is targeting a 6 Star Green Star Communities rating from the Green Building Council of Australia.
Lenslease recently announced its Mission Zero Roadmap, with plans to eliminate gas and diesel from designs and existing assets, switch to 100% renewable electricity and partner with suppliers and industry to eliminate embodied carbon in materials such as steel, aluminium and cement.
“Purposefully designed with families, couples, downsizers and investors in mind, the new offer is proving popular with the first stage nearly sold out and the final stage set to launch early next year,” added Cockerill.
The new development will boast easy accessibility, sitting within close proximity of public transport offerings on Swan Street and Bridge Road, as well being in walking distance of the Yarra River.
There are currently only a handful of houses still available for sale, with Gramercy Terraces marking the final chance to buy a terrace home in the precinct.
Ardency Kennedy Place, which neighbours Gramercy Terraces is currently under construction.
