Domain Apartment Guide Autumn 2010 - May 2nd 2010
"90 White Street, Mordialloc
Outer bayside suburbs were regarded as “sleepy” by investors and owner occupiers 20 years ago. Now they are seeing significant apartment development.
The City of Kingston has adopted a structure plan that it hopes will turn the small seaside village of Mordialloc into a leading activity centre. The result is some ambitious apartment projects, the scale of which rivals usual proposals in suburbs much closer to the city.
Pearl Greens is the latest such project to hit the market. The three-level development at 90 White Street will comprise 18 aapartments ranging from $409,000 to $525,000 and is being marketed by Phillips Nicholson First Real Estate.
Just 10 years ago this kind of money could have snapped up a house in the suburb, which shares its postcode with Aspendale, Braeside and Parkdale.
Pearl Greens is opposite the Woodlands Golf Course and scheduled for completion in late 2011. A spokesperson for the developer, Andy Taranto, of Urban Town Developments, says the depth of market in the outer bayside suburbs, which also include Edithvale, Carrum and Seaford, is driven by people who grew up in the area and have been outpriced from the more expensive bayside suburbs such as Mentone and Beaumaris."
Written by Marc Pallisco