This article is from the Australian Property Journal archive
DEVELOPER CostaFox has established a new identity and relaunched as Monno, with Geno Hubay becoming managing director and leading the company alongside co-founder and chairman Robert Costa, and the pair have records in their sites.
Monno’s $1.2 billion pipeline includes Stella Maris on the Geelong foreshore, an approved $125 million luxury waterfront residential development where off-the-plan sales launch is imminent.
One-bedroom apartments start at $595,000 through to six penthouses of three and four bedrooms ranging from $4 million to $6 million that are set to top the city’s previous house sale record of $4.2 million.
The Italianate mansion at the centre of Stella Maris was built in 1848 and was one of Geelong’s the earliest mansion houses in Geelong. Known as St Helens, it was originally a substantial coastal private residence prior to being acquired by the Sisters of Mercy in 1923 and renamed Stella Maris – “Star of the Sea” – and used as a convent and teaching institution.
Monno has engaged Rothelowman to reimagine the 1.25-hectare site with contemporary residential buildings centred around the retained St Helens, while Carr Design has been tasked with returning the mansion back to its former glory as a single coastal residence paired with a contemporary rear addition.
The fossil fuel-free development will also include layered and textural landscaping, sustainability features, a wellness centre including a lap pool, gym, yoga and steam room, an edible garden and EV charging bays.
“We’re incredibly confident to bring Stella Maris to the market. It’s an exceptional costal enclave that offers striking architecture with a new kind of living that the Bellarine Peninsula has not seen before,” Hubay said.
“The project’s size and location are unique for Geelong and we’re excited about launching this November.”
Hubay, Costa and former managing director Michael Fox began working together in 2016 when Hubay left a senior management role with Mirvac to join CostaFox, where he became a director and part owner in 2020. Fox has opted for a lifestyle change and is now pursuing his own private developments.
Monno’s pipeline also includes the $280 million hotel redevelopment of the heritage-listed Robur Tea House building on the southern edge of Melbourne’s CBD. Melbourne City Council’s Future Melbourne Committee approved plans in August for two new terracotta towers above the 1888-built teahouse, which will in total comprise a 224-room hotel, 4,300 sqm of premium-grade office space, 1,100 sqm of retail and hospitality and a 200 sqm landscaped pocket park.
Architects Snøhetta are overseeing the design with landscaping by Aspect. Construction is forecast to begin in 2024 and completion in 2026.
Munno bought the site three years ago for $28 million.
It is also developing Everlane, a $65 million new-generation workplace development in the Melbourne city fringe suburb of Cremorne.
