Russell Street could soon be home to a new 165 apartment building, with developer David Devine turning his attention to the inner south. Today’s Courier Mail reports Devine’s Metro Developments has bought the land on the corner of Manning Street, and is planning a new apartment project for market release in 2012. The land is opposite Stefan’s colourful sky-needle.
Devine was behind much of the early 2000’s residential development in the CBD and we believe this would be his first project on this side of the river. It’s another strong sign of confidence in the area. His track record has been to launch apartment projects with plenty of energy and marketing firepower, so we’d be surprised if this one doesn’t happen. We could expect completion of the building at the end of 2013.
Current apartment projects in the suburb are selling fairly well “off the plan” at the moment, with interstate investors especially showing plenty of faith in our neighbourhood and its future.