Hundreds of apartments planned for $450 million Schofields residential community
FARMLAND will be transformed into hundreds of apartments in Schofields, as developers prepare to commence construction on a $450 million residential development.
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FARMLAND will be transformed into hundreds of apartments in Schofields, as developers prepare to commence construction on a $450 million residential development.
Positive Investment Enterprise co-managing director Ali Mohammed said the masterplanned community, called Kew and located at 23-27 Schofields Rd, included 650 apartments across six residential towers.
“Initially, when we were looking at locations across wider NSW, we had a simple philosophy of liveability, quality and community at the heart of our development,” Mr Mohammed said.
He said the Schofields site was selected due to its accessibility to a range of public transport and infrastructure.
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“Schofields was once farmland, but now it is a developed community with a wide range of housing options. We just wanted to provide affordable homes for future residents,” Mr Mohammed said.
Construction of stage one of the residential development will begin on Thursday and will include 119 apartments. Prices start from $453,000 for a one-bedder.
Mr Mohammed said he expected to hand over the keys to residents of stage one in January.
“Stage one is already 80 per cent sold to a range of first-home buyers, downsizers and even families,” he said.
“Kew has plenty of public amenities and open space to enjoy and will continue to grow as our eight stages come to life.
“More than half of our buyers so far are first home buyers getting into the market so this is a definitely an affordable living option.”
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Mr Mohammed said Schofields Rd would benefit from a major upgrade as part of the development.
“We want to help establish a diverse Schofields town centre filled with public amenities, retail, transport options and jobs and I think that is what we are achieving,” he said.
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