Melbourne's largest suburban mixed-use development becomes reality
Melbourne's largest suburban mixed-use project is racking up some noteworthy milestones.
Construction works have begun on the site of M-City, Saraceno Group and Schiavello Group's $1 billion mixed-use development in Clayton. Piling and retention works across the 35,000sqm plot are underway on the corner of Princess Highway and Blackburn Road, signifying the project's transition into reality after being dormant for many years.
The works are a precursor to construction proper which will begin in earnest in the new year. A head contractor has yet to be revealed for the build.
Slated for M-City are three residential buildings, a hotel/serviced apartment component and an office building which fronts Princess Highway. These buildings are above a retail precinct which will be underpinned by a Village cinema complex, Kmart and Woolworths.
This weekend past witnessed the release of M-City's final residential building. Strong uptake of the project's first two residential buildings has prompted the release of the final stage dubbed M-2, which sees 239 additional dwellings offered.
With architecture by Buchan Group, M-City's first residential tower sold out within 2 weeks of launch whilst the second building racked up 70% sales within 4 weeks. According to the development partnership, less than 5% of the project's 643 apartments have sold internationally.
At capacity, M-City will be able to accommodate 4,000 residents, workers and shoppers.
In addition to the release of M-2, the development partnership officially unveiled Mantra Group as the operator of M-City's hotel and serviced apartment component earlier this month.
The deal for what will be known as Mantra M-City consists of a 10-storey hotel encompassing 250 hotel suites and amenities such as conference and meeting facilities plus restaurant and bar spaces.
Mantra Group will also be responsible for the operation of 180 serviced apartments in studio, one, two and three bedroom configurations in the adjoining building.
With works commencing, much of M-City has a targeted completion date of late-2020.