AUSTRALIAN developer Central Equity has announced plans to construct a A$90 million (HK$495 million) twin-tower luxury residential complex at a 'landmark' site in central Melbourne.
The project, expected to take 10 years to complete, will be on a corner lot in front of the Carlton Gardens, on the edge of the central business district.
Central Equity has filed a plan with the local government to construct 424 apartments in four 20-or 25-storey buildings surrounding a central courtyard on the one-hectare site.
According to a company spokesman in Hong Kong, the apartments will offer a 'superb view' over nearby parkland.
Architect for the project is Span Group, which has undertaken all of Central Equity's projects to date.
Stage I of the development will include the 20-storey MacArthur building, comprising 158 flats of one-, two-and three-bedroom units.