Work on $12m Darwin CBD luxury apartment project set to start soon
Relief for Darwin renters is in sight with work set to begin on a new luxury apartment complex.
Northern Territory
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Work on a Darwin developer’s plan to construct a 10-storey apartment complex will start soon with land clearing at the McMinn St site expected to begin early next month.
The Athanasiou Group of Companies plans to develop the LUXE apartments – a 10-storey, 24-unit complex at 35 McMinn St in the CBD.
Designed by Territory architects Savvas P Savvas, the estimated $12m development consists of 24 three-bedroom apartments with a ground level commercial tenancy.
The site is on the corner of McMinn and Gardiner streets next to Evolution tower, the Territory’s tallest building.
In November 2020 an abandoned home at the site burnt to the ground with fire crews unable to salvage the fibro building.
Company director Katerina Athanasiou said the project would be Darwin’s first CBD residential development for a number of years.
With her husband Leo, the Athanasiou Group has been developing projects in the Territory for the past 30 years
“With the government having been so proactive locally and federally and creating so many large projects in Darwin including the university, we are confident that it will increase our population and help grow Darwin as the beautiful city as it is,” Ms Athanasiou said.
The development was first advertised in October 2021 and approvals were finalised last year. Work is expected to begin in July and be completed by April 2024.
“It will be good for Darwin because there is a shortage of accommodation at the moment and this will hopefully meet some of that demand,” Ms Athanasiou said.
Landmark developments built by Athanasious include the Sunset Cove subdivision, the Vue Grande apartment on Shepherd St and the Brinkin Beach apartments.
The family also recently built a landmark residence on Nightcliff foreshore.
“We are born and raised in Darwin and we want to show our confidence by building in our city,” Ms Athanasious said.
“I believe we will again deliver a classy development that everyone will approve of.
“We are known for our luxury boutique developments.We have been building high rise developments for over 30 years.
“All trades and our professionals are local and our materials are sourced locally and we look forward to enjoying on-going relationships with all our contractors.”
Chin Property Group managing director Seth Chin said the project would be a luxury addition to Darwin’s rental market.
“It’s going to be really nice, a really quality development,” Mr Chin said.
“It’s probably the first time since 2013 or 2014 there’s been a residential high rise that isn’t underpinned by government leases or defence housing leases.
“There is already a supply shortage for residential apartments in the city and we’re looking at record low vacancy rates in terms of residential rentals.
“Interest rates are stopping a lot of people from buying and there are a lot of renters in the market. LUXE will deliver high-end specifications and be finished to a higher end.”
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Originally published as Work on $12m Darwin CBD luxury apartment project set to start soon
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