The redevelopment of a once derelict public housing complex in Wollongong is proving a hit with apartment buyers.
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The site will also be home to a social and affordable housing component.
A fire at 15-19 Crown Street, Wollongong in 2016 led to the loss of six of the complex's 22 units, with the affected tenants subsequently relocated to alternative accommodation and some parts of the site boarded up.
According to the NSW Land and Housing Corporation (LAHC), the previous social housing dwellings on the site comprised of three 1950's three-storey apartment buildings, which were "well past their working life" and demolished by LAHC in late 2019.
The site is now part of the NSW government's program to utilise social housing sites for redevelopment to provide more social housing mixed with private and affordable housing.
The LAHC says the renewal at 15-19 Crown Street will aim to deliver a modern, multi-storey apartment building with 65 units comprising 18 social, nine affordable and 38 private homes.
The LAHC is working with development partner, Traders In Purple while community housing provider the Housing Trust has been appointed to manage the new social and affordable housing properties.
Earlier this year, the government said the $22 million project would create an estimated 110 jobs during construction.
'Northsea' is a 12-storey project, with the premium apartment component being sold off-the-plan.
Northsea will feature 38 residential apartments, which are being sold through Belle Property Illawarra.
More than 70 per cent of the apartments sold during its first week on the market.
The residences are reportedly attracting a mix of both local and regional buyers, with some properties achieving more than $15,000 per metre.
"It's been a phenomenal response and it just reflects that a quality project like Northsea has long been overdue in Wollongong," Darren Kay, principal of Belle Property Illawarra said.
"We were confident Northsea's striking contemporary design, coastal location and the magnificent water views would resonate with buyers, particularly with the trend for coastal living following the COVID-19 pandemic."
Among the sales at Northsea have been a three-bedroom penthouse apartment, spanning 134 square metres, with two bathrooms and a double car parking space sold for $2.4 million, while two-bedroom apartments ranging in size from 95 square metres to 146 square metres fetched prices between $640,000 and $1.2 million.
The site is located 250 metres to Wollongong Beach and 50 metres from WIN Stadium.
"We are proud to partner with NSW government to develop this prime pocket of Wollongong," Thomas Zdun, development director of Traders In Purple said.
"The new building will offer magnificent outlooks in all directions. This is a wonderful opportunity to enable this site to be transformed for a new chapter, and deliver a new and special mixed-tenure community."
Northsea will include a ground floor commercial space.
The apartments will feature bespoke and contemporary finishes. Each will feature a stone-topped kitchen fitted with quality European stainless steel appliances.
Of the unsold apartments, two-bedrooms range from $1,040,000 to $1.25 million; and three-bedrooms range from $1.35 million to $1,995,000.
Construction of the project is expected to commence in early 2022.
Completion date for the apartments is anticipated for the end of 2023.
Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
