The immediate need for sustainable design is growing in Melbourne. Residents increasingly look to live in developments that embody their core values, and compliment their reduced carbon footprint lifestyle.
But what does a cohesive approach to sustainability look like beyond environmental responsibility, and how can it generate greater yield for investors?
This week we unpack Pace of Abbotsford's four pillars of sustainability: environmental, social, cultural, and economic to find out why you should be investing in a project of the future.
Pace of Abbotsford has been designed with the utmost environmental consideration. The development's green features include rainwater harvesting facilities, solar panels, Best Practice Green Star and high energy rating standards. In addition, Pace of Abbotsford caters to environmentally conscious commuters with ample secure bike storage facilities, and charge points for electric cars and bikes.
These features coupled with Pace of Abbotsford's proximity to natural amenity such as Yarra Bend and Studley Park, Melbourne's CBD, and public transport facilities make Pace of Abbotsford a future proof investment, set to retain its relevance and yield strong capital growth.
As Abbotsford transitions from its industrial heritage into a thriving mixed use and residential precinct, Pace of Abbotsford leads the way in promoting social sustainability in diversity of residents it attracts through a mixture of 1,2 & 3 bedroom apartments and multi-level townhouses.
Urbis reports show Abbotsford's population is set to continue its strong social growth to a total of 11,700 residents by 2031. Pace of Abbotsford gives investors the opportunity to enter this burgeoning market at its tipping point, as a range of residents from first home buyers to young families and downsizers increasingly make Abbotsford their home in a suburb that boasts higher median sale price of apartments than surrounding Clifton Hill and Fitzroy, as well as longer rental tenure, and a low vacancy rate of 3.6%.
In the context of urban design, the cultural pillar of sustainability brings vitality to an area. Creative, vibrant, and resilient communities are attractive to investors in business and tourism, creating employment opportunities and adding wealth to the community.
By envisioning a development with a focus on cultural sustainability, Pace of Abbotsford creates a vibrant new community in Abbotsford's heart, while enhancing the existing cultural capital of its surrounds such as the Abbotsford Convent and emerging Collingwood Arts Precinct.
Long term economic prosperity depends on a vital, distinct and dynamic local economy. As an economically responsible neighbour, Pace of Abbotsford is a new infrastructure that champions the existing groundswell of innovators and entrepreneurs who have flocked to the area in recent years. The 136 new residences and public spaces Pace of Abbotsford creates serve the business community by providing increased foot traffic to the locale.
This economic growth is set for further optimisation with the construction of a new Child & Family Centre in Abbotsford in 2018, and the proposed Johnston Street Renewal Project which will see the integration of a new precinct around Victoria Park Station through a $10 million-dollar investment by the Victorian government.
Construction at Pace of Abbotsford is scheduled to commence in late 2017 with completion expected in mid 2019.
With apartments selling fast, enquire today.