December 20, 2016
MORE than 500 construction jobs are expected to be created when work begins on an ultra-luxury $250 million development on a prominent CBD site within the next few months.
The 31-storey Echelon development on the Trims clothing store site on King William St will boast residential and commercial components, according to property developer Gerry Karidis, who is behind the project.
The development — which received Development Assessment Commission approval late last week — will include two towers with a total of 141 residential apartments and will bring a new level of luxury to the city, Mr Karidis said.
“Having apartments within the top floors means everyone living in this vertical village enjoys a panoramic bird’s eye view of our beautiful city centre, parklands, hills and sea,” said Mr Karidis, who plans to become the building’s first resident.
The 114m tall project has already sparked significant state, national and international interest, with significant levels of pre-sale inquiries from residential and commercial buyers wanting to secure their place in the high rise development, he said.