Orta apartments tops out as developers start planning new $100m project on The Parade
A $95m Norwood apartment project has reached its highest point, and its developers are already drafting plans for another $100m addition to The Parade.
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A $95m luxury apartment project in the heart of The Parade has reached its highest point, and its developers are already drafting plans for another $100m residential project on Norwood’s main retail strip.
A topping out ceremony will be held on Thursday to mark the latest milestone in construction of the Orta project on the corner of Osmond Tce, which is expected to be completed in October next year.
More than 95 per cent of the 65 apartments in the eight-storey building are already sold.
The project is a joint venture between Adelaide developer Pep Rocca’s Rocca Property Group and Zollo Property Group.
“We are thrilled to have reached this significant milestone with Orta on The Parade,” Mr Rocca said.
“This project embodies our vision of creating a truly unique space that celebrates Norwood’s character and enhances its future.
“We are not just building homes; we are building a community that will thrive in this historic neighbourhood.”
Local company Synergy Construct is heading up construction of the Orta project, which will feature luxury two and three bedroom apartments and penthouses across six upper levels, retail on the ground floor and a level of commercial office space.
The project is supporting around 600 jobs during construction and an additional 200 ongoing roles across its retail and commercial spaces.
Mr Rocca, who has overseen a string of developments in Norwood, including the Como apartments rising above the revamped Norwood Mall and Coles supermarket, is working on plans for another mixed-use project on the corner of The Parade and Sydenham Rd.
Curated Capital – the funds management firm he runs with business partner Alessio Roscio – is working up concepts for a mixed-use project with apartments, retail outlets and commercial office spaces.
Known as Casa, the project is likely to feature up to 50 apartments with a project value of around $100m.
Designs are expected to be drafted early in the new year.
Curated Capital paid $15m for the 4300sq m site – located around 200m west of Norwood Oval – in 2021.
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