Iris Residential has selected Multiplex to construct its Amara City Gardens retail living project in Booragoon.
Iris said construction was expected to begin before the end of the year, with the development to comprise 124 one-, two- and three-bedroom apartments, together with a range of resident facilities and amenities, adjoining Garden City Shopping Centre.
The $100 million development will also include five commercial tenancies.
Located on Davy Street near the corner of Marmion Street, and 250 metres from Wireless Hill Park, the development would be Western Australia’s first large-scale retail living project, Iris said.
It is expected to be completed in 2022.
Iris Residential chief operating officer Tanya Trevisan said more than a third of the apartments had so far been sold off the plan and a return of buyer confidence had lifted the level of enquiry in recent weeks.
“We are clearly seeing a return of confidence to the market, with $22 million worth of apartments sold across three of our projects in the past few months – and we have seen a particularly strong bounce since the federal election, with buyers now willing to come off the bench and engage,” she said.
“We believe will draw keen buyer interest in the lead up to the commencement of construction at Amara City Gardens later this year.”
Multiplex regional managing director Chris Palandri said the builder was looking forward to delivering on a stand-out project for the WA market.
“We’re delighted to be appointed to construct Amara City Gardens and enter into what we anticipate to be a long-term partnership with Iris Residential,” he said.
By Business News
