This article is from the Australian Property Journal archive
DEVELOPER ID_LAND is looking to take advantage for built-form and medium-density living by launching a new apartment project, the $50m Canvas development in Brunswick in Melbourne’s inner north.
Designed by Rothelowman, the 62-apartment project will include 280 sqm of ground-floor retail space and 1,000 sqm of commercial space. One-bedroom apartments start at $440,000, two bedrooms from $700,000 and three bedroom options range from $1,200,000 to $1,450,000.
Managing director Matthew Belford said the decision to broaden its portfolio to include more built-form reflects the value it sees in these offerings, as well as its desire to cater its projects to high-demand markets.
“The reason our portfolio has shifted in recent years to accommodate more built-form and medium-density is that it allows us to be nimble in our approach – Brunswick is a highly sought-after location, and one that we have extensive experience in, so we were motivated to deliver a project that would cater to pent-up demand while also contributing to its surrounds.
“We see our land communities and built-form developments as complementing each other. Our land developments are long-term plays with a strong focus on regional and greenfield areas, whereas our medium density and apartment developments allow us to cater to a different demographic and build multiple different asset classes within our portfolio,” he added.
“COVID-19 has certainly shifted buyer habits, many early enquiries have been people searching to live closer to the inner-city, where dependence on car and public transport is lower, retail amenities are nearby and there are parks and public spaces within walking distance,” he continued.
Belford said ID_Land is currently looking to acquire more sites of this nature, adding that the group would like to be launching one to two built form projects per year, in addition to its active and future land projects.
