More time given for Arthouse
THE developers of the tallest building set for the Joondalup city centre have asked for more time to start the project.
At last month’s meeting, Joondalup councillors considered an application from Hillam Architects, on behalf of land owner Edge Holdings No 5, for minor modifications to the previously approved 18-storey Arthouse development at 113 Grand Boulevard and to extend the approval period for another two years.
Edge Holdings No 5 managing director Lincoln Jones said the property market had been “facing a difficult three years” and more time was necessary to “address the uncertainty in the market” and to reach presale targets to ensure the development is viable.
“We are seeing some green shoots in the markets,” he said.
“We are nearing our pre-sale targets and we are currently in discussions with a major purchaser to take out some units, which will give us the necessary pre sales to commence development. We have full faith we can deliver high rise multi-unit living that will be a significant development to contribute to the Joondalup city centre.”
The multi-use development was first approved by the Metro NorthWest Joint Development Assessment Panel in February 2015.
It proposed 190 apartments and four ground floor commercial tenancies. In October 2015, the assessment panel approved modifications including increasing the number of apartments to 194 and changing their layout and composition and increasing the store rooms and car parking bays.
Councillors at the March 20 meeting unanimously voted to extend the approval to February 2020.
They also approved more modifications, including increasing the building height.