Pace Development Group currently have a planning application before City of Port Phillip for a prized Fitzroy Street, St Kilda site which the prolific developer reportedly paid in excess of $17 million for during the course of 2013. Previously home to the Australian Institute of Management, the existing office block at 181 Fitzroy Street is set to make way for a sizeable building of 177 apartments.
Incidentally 181 Fitzroy Street joints four other Pace Development Group projects within a short distance of St Kilda Junction, enforcing perceptions that the precinct is currently in the midst of an apartment surge.
Likely to target owner-occupiers, the SJB-designed building will carry amenities over level 8 including a gym, lounge and terrace area. The Fitzroy Street frontage will hold three retail tenancies and residential lobby while the site's rear to Pattison Street will also maintain three pedestrian entrances and vehicle access.
Each apartment has either a balcony or terrace included while 28 single bedroom + study apartments have been designed to be converted into two bedroom dwellings if demand dictates.
The building consists of separate built forms including the main built form and its recessed light weight upper level. The building is well articulated and incorporates a range of quality materials and finishes including precast concrete, masonry cladding, glazing, dark metal cladding, galvanised metal mesh and timber batten screens.Urbis Planning Report
181 Fitzroy Street joins another Pace Development Group project currently at planning, albeit with City of Stonnington. According to the Stonnington Planning Register, 46-48 Punt Road has gone to appeal due to Stonnington's failure to determine within the prescribed time limit; an appeal hearing date is listed for Monday 29th September.
Directly opposite 46-48 Punt Road, construction has begun on another Pace Development Group project, Henry Windsor while The Icon at 18 levels is in many ways the development firm's flagship project and well into construction. Rounding out the group is Allure which was completed the best part of a year ago.
Should the two projects at planning reach reality, Pace Development Group would have contributed near on 500 new dwellings to the St Klida Junction precinct, making it a honey pot for the bayside-based developer.