Alternative proposal
City of Stonnington Market Outlook/ Opportunities
The size of Prahran is approximately 2 square kilometres. It has 6 parks covering
4% of total area. In 2006 the population of Prahran was 10,658 people and by
2011 it has 11,190 people, showing a growth of 4% in the area. Around 50% of Prahran’s population is aged 20-39. Each year the area attracts significant numbers of young people between the ages of 15-29. The inner urban lifestyle is attractive to these younger people. Prahran has a reasonably high proportion of dwelling that are being rented 48.4%, while 19.9 are fully owned and 19.8% of dwellings are being purchased.
Two main economic drivers based on our development team opinion dominate Melbourne and the City of Stonington. They consist of influx of foreign wealth, especially international students and youngster from inter-state Australia coming to Melbourne. The huge increase of population that Melbourne is going to face in the future is a good sign for developers. The other factor that our team think that it will affect the development is the new look that chapel street will have in the future, especially with the new Chapel street Masterplan that was just adopted by Stonington Council this week.
Alternative Proposal
The Fashionista Cove development is an alternative proposed development to the original development. The concept of The Fashionista is based on the youth of today and also integrating green concept into it. The Fashionista Cove development is a mixed-used development on the 381-sqm block located in the same location as the original proposal. Therefore building requirements and control policies are not much of a difference compared to the original development. The project will consist of a 7- storey building including underground car parking. Instead of having a café, our team plans on adding a fully equipped gym, a small indoor skate park and a roof top garden. The whole idea of The Fashionista development is to capture
The size of Prahran is approximately 2 square kilometres. It has 6 parks covering
4% of total area. In 2006 the population of Prahran was 10,658 people and by
2011 it has 11,190 people, showing a growth of 4% in the area. Around 50% of Prahran’s population is aged 20-39. Each year the area attracts significant numbers of young people between the ages of 15-29. The inner urban lifestyle is attractive to these younger people. Prahran has a reasonably high proportion of dwelling that are being rented 48.4%, while 19.9 are fully owned and 19.8% of dwellings are being purchased.
Two main economic drivers based on our development team opinion dominate Melbourne and the City of Stonington. They consist of influx of foreign wealth, especially international students and youngster from inter-state Australia coming to Melbourne. The huge increase of population that Melbourne is going to face in the future is a good sign for developers. The other factor that our team think that it will affect the development is the new look that chapel street will have in the future, especially with the new Chapel street Masterplan that was just adopted by Stonington Council this week.
Alternative Proposal
The Fashionista Cove development is an alternative proposed development to the original development. The concept of The Fashionista is based on the youth of today and also integrating green concept into it. The Fashionista Cove development is a mixed-used development on the 381-sqm block located in the same location as the original proposal. Therefore building requirements and control policies are not much of a difference compared to the original development. The project will consist of a 7- storey building including underground car parking. Instead of having a café, our team plans on adding a fully equipped gym, a small indoor skate park and a roof top garden. The whole idea of The Fashionista development is to capture