Developments

Salta to deliver 1000 apartments in 5 years

Salta Properties, that completed its $250 million, 500-apartment Green Square project (that included 93 Quest serviced apartments) last week at Abbotsford in Melboune, has said it will create another 1000 apartments over the next five years in the same area.

”We’re looking at re-prioritising our rollout and moving to stage 2 of Green Square,” managing director Sam Tarascio said. ”We’ve got the remainder of the MFB site and we’d like to clean that up.”

On another smaller lot also owned by Salta, the group expects to start work in June on another 61 units in its A Place to Live complex. Salta has a land bank of three riverfront sites in the area that could house at least 1028 apartments. Mr Tarascio said the group was considering converting some of those sites, previously targeted at commercial use, to residential because the glut of supply in the city’s office market had curbed demand.

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