Starfish Development’s dirt breaking ceremony marks a celebration for the first residential apartment building to start construction in Port Adelaide in over ten years.
Completion is expected in 12-14 months and 70 jobs will be created throughout the process. The apartment sold out during the Covid lockdown period, with 50 percent owner occupier and 50 percent investors, confirming the confidence in the area.
The apartment building has been designed by award-winning architect Enzo Caroscio, and draws inspiration from Port Adelaide’s heritage warehouse buildings and dominant sawtooth roof structure. The top floor apartments will feature vaulted ceilings and utilise the sawtooth roof structure as part of their living space.
“We are pleased to be starting construction today, We are particularly pleased with the mix of owner occupiers and investors confirming the depth of the market here. It shows great confidence in Port Adelaide as an area providing jobs and offering a really exciting lifestyle” says Starfish Developments Managing Director Damon Nagel.
“Having spent 15 years overseas in the Middle East and seeing what happens with successful waterfront developments, we felt really positive about the lifestyle changes happening in Port Adelaide. Also with defence spending, we felt this development was more recession proof” says Jane Patterson, Dock One Warehouse Apartment purchaser.
This apartment building forms a part of the larger Stage 1, with 76 apartments and 35 townhouses released. All properties have been sold and the first residents moved in the first week of September. The homes along the promenade are complete, as well as the park-facing homes of Stage 1. This first stage of Dock One has a delivered value of $57,000,000 and a project value in excess of $350,000,000.