Construction of Wollongong’s Parq on Flinders development draws closer, with the selection of a builder almost complete.
The proposal for 221 apartments and a number of commercial sites was approved in late 2016 for the triangular site between Keira, Flinders and Campbell streets.
However, buyers have been left waiting regarding a construction commencement date.
Parq on Flinders will have four separate residential towers of seven and eight storeys.
For several years, the huge development site was arguably Wollongong’s most controversial block of land.
It was once flagged for the corruption-laden ‘Quattro’ development.
This week, managing agents Colliers International announced developers BRDB and Hutchinson Builders had now signed a letter of award.
Colliers reported that the process of selecting the builder is almost complete.
“During April, BRDB entered into exclusive negotiations with Hutchinson Builders as the preferred tenderer for construction of Parq on Flinders,” Colliers International managing director Simon Kersten said in an email to buyers.
“Following this letter of award the final detailed construction contracts are being finalised.
“We are hopeful that either next week or the week after we should see these documents executed and activity on-site commence shortly after.”
Mr Kersten said 136 of the apartments had sold so far.
The Mercury reported last year that full-blown construction of Parq on Flinders development was scheduled to begin in early 2018.
Mr Kersten said there were no concerns regarding buyers potentially reneging on contracts due to the delays.
“The contracts were really clear about the timeline for construction… There’s a sunset clause, which says if things don’t happen by a certain period, then the buyer has the right to pull out.
“We’ve met all those clauses all the way through, and on the current trajectory we’ll be well in front, by probably a year, of what the current sunset clause is for completion.
“If the builder gets appointed in the next few weeks and they start building it’ll take around two years.
“There’s no hiccups or problems… Obviously we’ve got a few buyers who are keen for it to start.
“This will be a circa $100 million job, and it’s a big deal… It’s just spun out a little bit in time and costed a little more than they thought.”