Melbourne Developer And Energy Provider Form Partnership In Australian FirstManningham Leader, David Aidone - Published December 2016
AUSTRALIAN developers have a new sustainability benchmark thanks to an eco-friendly St Kilda tower.
A partnership between Pace Development Group and Origin Energy has established a number of sustainability initiatives in the 10-storey building at 181 Fitzroy St.
The recently settled 151-apartment development was the first nationally to secure such a partnership with an energy retailer.
Managing director of Pace Development Group Shane Wilkinson said the decision to pursue such a partnership was inspired by development projects across the globe and from local market feedback.
“It was a combination of both; we understand green-star living needs to provide both tangible and intangible benefits to residents, such as reduced power consumption, cost savings and a reduced carbon footprint.,” Mr Wilkinson said.
He also said he was surprised new apartment developments were not required to pursue diverse sustainability initiatives, and that partnerships like this would become commonplace in the future.
Among the eco-friendly inclusions are solar panels that provide 50 per cent of power required for lighting in common areas, which the owner-funded body corporate can expect to result in lower ongoing costs.
While electricity and gas are provided as part of an embedded network, a feature seen in other developments, the tower also has a communal plug-in electric hybrid vehicle.
Mr Wilkinson said a majority of the apartments had been snapped up by local buyers, with 84 per cent going to owner-occupiers.
Buyer Lou Papile said he had intended to downsize to a three-bedroom apartment within a couple of years.
Mr Papile said he wouldn’t have considered downsizing to an apartment ten years ago, and it was positive that developers were listening to consumers.
“I thought it was important to get in early, as prices are only going to rise,” Mr Papile said.
“I had looked at a few other developments in the area, but they didn’t feel right.
“I wanted something with a point of difference, and felt strongly about somewhere that prioritised sustainability.”
A limited number of apartments in the development were retained by Pace and will potentially be released early next year.