Lush landscaped gardens form the pedestrian backbone of the new St Kilda East apartment development at 97 Alma Rd, opposite Alma Park.
Melbourne billionaire Daniel Besen has helped launch one of the few southern projects to break ground, backing the St Kilda East development opposite Alma Park as a selling point for construction across the city.
Besen is backing the 61-apartment development at 97 Alma Rd, delivered in partnership with long-time Melbourne developer Neometro, as rising construction costs and poor viability force thousands of approved apartments to be postponed or abandoned.
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The project, directly opposite Alma Park, will include 41 apartments and 20 townhouses, with apartments priced from $649,000 and townhouses from $1.79m. Completion is targeted for 2027.
Neometro director, Lochlan Sinclair, said the development reflected local confidence and suburban appeal.
“St Kilda has a rich and fascinating history,” Mr Sinclair said.
“The suburb also played a large role in Neometro's early years and with 97 Alma Rd, we honor that legacy while looking to what the future of luxury living looks like.”
Neometro has a long-standing connection to St Kilda East, having launched some of its first apartment projects in the suburb over two decades ago.
A light-filled living space within one of the new apartments in the St Kilda East project, with natural elements and skylights above the main living area.
The 3410sq m site was bought by Neometro in 2021 for $21.8m, with planning permission granted late last year.
The project was designed by Kerstin Thompson Architects, drawing on St Kilda's mansion-block heritage and cosmopolitan past.
KTA founder Kerstin Thompson said the project is rooted in local history and community.
“The design tells you something about the St Kilda area and its community,” Ms Thompson said.
“We looked at the history of St Kilda, which was famous for being a residential area, and the apartments in the area.”
Lush landscaped gardens form the pedestrian backbone of the new St Kilda East apartment development at 97 Alma Rd, opposite Alma Park.
“We also looked at the community that knows St Kilda well to make it feel connected to people's histories and where they may have spent time when they were young.
“All of these things were shown and embedded in the design.”
A key drawcard is the project's location facing Alma Park, which is increasingly valued by buyers who are trading traditional yards for green space.
Landscaping is an integral part of the design for the St Kilda East development, with planted walkways and garden views throughout.
Wooden finishes and neutral tones are a feature of the interiors in the new St Kilda East apartment building.
Mr Sinclair described the park as an extension of the residential areas.
“It's a rare opportunity to live in close contact with nature, while still being at the heart of St Kilda's urban fabric,” he said.
The mix of apartments and townhouses is designed to appeal to owner-occupiers and downsizers, rather than short-term investors.
View towards the park of the new apartment development at 97 Alma Rd, St Kilda East, directly opposite Alma Park.
Alma Park sits opposite a new apartment development at 97 Alma Rd, St Kilda East.
Mrs. Thompson said the diversity of housing types is the key to this plan.
“The sign of any healthy community is that it lives in many different places, and this project is no different,” he said.
“It shows the life in our cities. Different types of housing, be it townhouses, small apartments or large apartments, can meet the needs of a diverse community.”
With work now underway, the Alma Rd project is among the few developments in the south core to go from approval to reality, showing where confidence and money remain in Melbourne's strengthening housing market.
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