Construction has started on bohem, Starfish Developments new $110 million CBD apartment project, just seven months after it first went onto the market.
There has been strong demand for the project which is now over 60% sold, with a third of buyers aged below 30.
The demand for CBD living is rising with population forecasts showing the city’s population is set to grow this year to 22,393 – a 52 year high.
Over the next 20 years, the city’s population is forecast to grow above 38,000 with the Adelaide Lord Mayor aiming for even stronger population growth.
Starfish Developments Managing Director Damon Nagel said construction starting at bohem marked a major boost for city apartment living.
“Adelaidians are more readily embracing apartment living but the project has to be well-designed, well-located and well-priced,” said Mr Nagel.
“Buyers have embraced bohem’s bold design and its prime location close to the Gouger Street dining strip, local cafes and the Adelaide Central Markets.
“Adelaide’s West End is a fusion of cultures and styles and this is reflected at bohem, which brings together various design elements, scaled heights and setbacks, and exterior finishes and material and an ever changing façade.”
bohem will transform an unsightly and largely derelict prime corner site into a residential apartment building with 220 one, two and three bedroom apartments, podium level balconies featuring lush, hanging gardens and European style Sky Garden with stunning views over the city.
The project will create 300 jobs and construction is expected to be complete in October 2017.
Apartments still available at bohem are priced from $339,000 for a one bedroom apartment, $460,000 for two bedrooms and $1,200,000 for three bedrooms.