, will result in the housing market “getting strong very quickly” – as he submitted plans for an $800 million luxury apartment project on Melbourne’s St Kilda Road.
Mr Gurner said the bigger macroeconomic picture was one of “gigantic undersupply” in the housing market.He predicted that over the next three to seven years, the market would be “as strong as we have ever seen it”, but that it would take 6 to 12 months to work through the current hesitancy among buyers.as CEO in December, has a big bet on the revival of the apartment market with major projects to launch this year in Adelaide, Sydney and in Melbourne’s Docklands.
The acquisition was the second seed asset for Gurner Group’s build-to-sell apartment fund, which is backed by a $400 million commitment fromWith apartment prices starting from $1.6 million to $10 million , the development will target wealthy locals from nearby affluent suburbs like Prahran, South Yarra and Toorak.. It’s more aimed at rightsizers than downsizers, as these will still be very large lifestyle apartments that owners can lock up and leave,” Mr Gurner said.
The design by architects SOM includes a “Batman cave-like” Porte cochère arrival experience and an underground lobby that Mr Gurner said would prioritise the privacy and security of apartment owners.