Bridge Road's apartment transformation gathers pace
The struggles of Bridge Road have been well documented both on Urban.com.au and via many other media outlets. For so long synonymous with 'warehouse fashion' shopping, many have said Bridge Road has suffered a sustained decline due to the rise of DFO's and the substantial investment pumped into the CBD's retail offerings in recent years.
Remedies such as free parking have been put forward, while others such as Fred Nucara of Beller Commercial suggested during 2014 that Bridge Road is due for a fundamental shift in how and who uses and peruses the precinct. As destination shoppers choosing Bridge Road diminish, the struggling retail segment is likely to drift toward catering for the burgeoning population now choosing to call the area home.
This reshaping of Bridge Road into an apartment hotspot has gathered a head of steam over the preceding six months in particular, with a raft of residential planning applications in progress. Now three more new residential projects seek to compound the trend, appearing on City of Yarra's Major Development page within the last fortnight. They are in no particular order:
195 Bridge Road
This eight storey building designed by Archsign on behalf of a private developer seeks to fill a slender site with Bridge Road frontage. Located next to the at sales Newbridge Apartments, 195 Bridge Road would maintain a simple form behind a retained frontage holding a 130sqm retail space.
With only 10 apartments split between 7 one-bedroom, 2 two-bedroom and 1 three-bedroom options, 195 Bridge Road's apartments will range between 52sqm for a single bedroom apartment through to a dual level 228sqm penthouse of sorts. Two car parking spaces have been included with general access via Leggo Place.
19-21 Judd Street
50 dwellings are included within this Hayball-designed planning application. Holding 5 one-bedroom, 44 two-bedroom and 1 three-bedroom apartments, the distinctly precast design is initially valued at $12 million and is on behalf of Bridge Road-based G3 Projects.
Included at ground level is a 33sqm cafe while 33 car parking and 59 bicycle spaces have been catered for. 19-21 Judd Street finds itself in close proximity to Charlie Richmond; the 96-apartment development on of the area's early large-scale residential developments.
239-245 Church Street
Consultancy Planned FX has lodged documents on behalf of Katama Pty Ltd and Bider Pty Ltd for a redevelopment of a low-rise string of retail tenancies metres from Bridge Road. A structure dated 1925 is amongst the buildings slated to go in favour of an eight level apartment block with an initial development value of $8.5 million.
With basement car parking, the Armsby Architects-designed building will hold 53 apartments, split between 16 one-bedroom, 29 two-bedroom and 8 three-bedroom options. Retail tenancies line Church Street while basement access is via Tullo Place to the rear.
A bridge from here to there
The fresh planning applications above join the list of eleven projects either on or in the immediate vicinity of Bridge Road as seen below. At varying stages of the planning process, only Isola is at construction with Collingwood-based construction firm Lexicon at the reigns of the build which is in its infancy.
Estelle by Milbex and Newbridge Apartments on behalf of Longriver Group are at sales, with the remainder at lower rungs of the development process.
If the projects shown above and below are realised, the Urban.com.au Project Database indicates that in excess of 1,130 new apartments will be pumped into the Bridge Road Precinct in the medium term. Add large-scale peripheral projects such as Lend Lease's Studio 9 and Riverlee's multi-staged Jaques site redevelopment, and the transformation of Bridge Road from retail destination to a strip serving the needs of a burgeoning and immediate population looks to be in full swing.