There's news for Pace Development Group across a variety of fronts.
Firstly, the prolific developer has taken the 2016 Property Development Award at the Australian Property Industry (API) Excellence in Property Awards. St Kilda's 'The Icon' building was granted the citation as part of the event which recognises innovation and outstanding achievement s across the property industry.
Held last Friday evening, the award results from the deliberations of a group of property leaders which critically assessed all entries in their individual fields. The Icon landed the overall Property Development Award on the evening.
Like any challenging design statement, The Icon created a sense of apprehension initially within the locally community, however with Pace’s expertise in the area, together with architects Jackson Clements Burrows (JCB) and local artist Matthew Johnson – the final result is truly stunning.
One we should all be proud of.Michael Holah, Head of Planning and Design, Pace Development Group
Now in its 22nd year of operation, Pace Development Group is powering ahead with its development pipeline.
With George Windsor and St Kilda's 181 Fitzroy Street all but complete, construction has commenced on Pace of Northcote. In excess if 60% of the initial stage has sold, allowing Pace of Northcote to progress from sales release to construction in little more than a few weeks.
The developer's Northcote pursuit is joined by Pace of Doncaster East and 808-818 Sydney Road which are both at sales, while Ode St Kilda is also at construction. This quartet is set to deliver approximately 320 new apartments across four separate suburbs.
In related news, Pace Development Group's intended residential project at 247-259 Johnston Street, Abbotsford has gone back to Council with a revised scheme.
City of Yarra are now displaying the updated plans which carry an estimated development cost of $45 million. Gone is an earlier scheme for an 18 level tower, with a smaller tower installed in order to respond to the official feedback received from Council's independent Urban Designers. Greater setbacks to Johnston Street and Stafford Street have also been included.
At 12 levels, Pace Development Group is pushing to realise 148 apartments across the project, comprising of 66 x 1 bedroom, 7 x 1 bedroom plus study, 69 x 2 bedroom, 1 x 2 bedroom plus study and 5 x 3 bedroom options.
247-259 Johnston Street along with Collingwood's 73-77 Wellington Street form the backbone of Pace Development Group's future projects stock.