AUSTRALIA’S first paper mill will soon be the site of Liverpool’s biggest development, but the original 150-year-old building will remain.
Work has begun on the Paper Mill On Georges River, a $600 million venture to be complete in five years with more than 1000 apartments.
The first 300 apartments, worth about $192 million, are due for completion late next year.
“Local buyers have been missing out and I think we are experiencing the result of that pent-up demand,” Coronation Property director Joseph Nahas said.
Located on the site of one of the oldest and largest paper mills in Australia, is a collective vision to combine contemporary living with a deep sense of history by internationally renowned architects Woods Bagot, landscape designers Aspect Studios and urban designers Architectus.
Coronation Property Sales Director Jason Soulos said it was the biggest development in Liverpool, with two more stages planned.
“While the city has historically turned its back to the Georges River, this new development will make the waterfront a focal point and a place for residents to enjoy,” he said.
“In retaining the original paper mill through extensive restoration works, we’ve been able to plan the transformation a neglected building into a revitalised public amenity, the anchor for the Paper Mill precinct.”
Most have been sold already, with one-bedroom apartments starting at $465,000, two bedrooms from $580,000 and three bedrooms from $700,000.
The Paper Mill site is expected to activate the Georges River as well as offer the community a retail space suitable for showcasing regional produce, pop-up shops to foster local talent and a cafe that aims to become a vibrant, welcoming meeting place for all.