Tuesday, February 18, 2014 – The much-anticipated rebirth of Sydney’s second CBD and Australia’s sixth largest economy, Parramatta, is now taking shape as landmark residential project, V by Crown reaches a construction milestone.
With $15 Billion in Gross Regional Production and attention-grabbing forecasts of economic and population growth, Parramatta’s much-talked-about renaissance is fast becoming a reality as construction hits a milestone at $309 million landmark residential project, V by Crown – on track to be the tallest building in Parramatta when completed.
Sydney-based property developer Crown Group today marked the ‘Setting of the Slab’ -a major milestone in the construction a new resort-style, luxury residential development, often called Parramatta’s Vertical Village.
The two large concrete slabs measuring 30m wide x 50m long x 1m thick will form a base for the 29-storey tower now under construction on Macquarie Street, featuring 519 apartments, and resort-style facilities including pool, gym, sauna, conference facilities, music room, theatrette and a library.
Parramatta Lord Mayor John Chedid joined Crown Group CEO Iwan Sunito on site today to celebrate the milestone.
Visible from blocks away: two three-storey steel V columns, erected late last year were inspected today by the Lord Mayor.
When complete, V by Crown will rise above Parramatta’s tallest existing building the 28-storey B1 tower.
Crown Group CEO Iwan Sunito said he was proud to celebrate the milestone at V by Crown.
Crown Group recognized the tremendous growth potential of Parramatta, Mr Sunito said
Today, Parramatta is home to an increasing number of multi-national corporations and Government departments including Deloitte, Westfield, GE money, AMP, Bankwest, Commonwealth Bank, QBE, Sydney Water and Suncorp, each with regional headquarters or major offices in Parramatta. It’s little wonder Parramatta is enticing residential property buyers from all walks of life.
Figures released in February* show the city is in high demand for first home buyers with Parramatta’s 2150 postcode home to the largest number of NSW first home buyers grants recipients in 2013.
Parramatta’s public transport links, high-quality schools and universities, wide variety of entertainment and shopping options and proximity to Westmead Hospital were among the reasons Crown Group selected the thriving city to develop V by Crown, Mr Sunito said.
V by Crown recently reached an impressive $150 million in sales, with more than 270 apartments snapped up since the project was launched in 2012.
“After the success of Gallery, Crown Group’s first project in Parramatta – completed in 2009 – we saw Parramatta’s potential for sustained growth.
“V by Crown follows Crown Group’s philosophy of creating apartment buildings with five-star resort style living. The design utilizes public space at ground level to improve the public amenity in the area,”
“V by Crown is not only progressing well in terms of construction but has been popular with buyers and sales continue to be strong,”
“We are pleased to welcome Parramatta’s Lord Mayor John Chedid to celebrate this important milestone with us,”
“This project is at the forefront of Parramatta’s transformation into a thriving modern city in its own right,”
“As Parramatta’s work force and population grows, there is an increasing demand for high quality residential apartments in the city. We are proud to offer residents high quality, yet affordable luxury apartments in Parramatta,” Mr Sunito said.
Lord Mayor of Parramatta, Cr John Chedid said V by Crown will add significantly to the urban renewal of Parramatta.
“Developments such as this cement Parramatta’s status as Western Sydney’s economic and business capital. V by Crown will be home to thousands of new Parramatta residents and will provide ample public space when completed in 2016,” Cr Chedid said.
“I look forward to seeing V by Crown join our skyline.”
“Importantly, projects like this add to the extensive program of works already underway to make Parramatta a better place to live and work in. The upgrade of Church St Mall, for example, will be completed by the end of the year.
“And this time next year, the Lennox Bridge Portals will be complete, improving pedestrian links between Parramatta River and the city centre. There’s no doubt – the transformation of Parramatta CBD is accelerating at a fast pace.”
The striking tower was designed by Allen Jack + Cottier Architects with interiors designed by Japanese-Australian architect Koichi Takada.
Discovered during excavation, the remains of an 1840’s convict hut, wheelwright’s workshop and the cellar of the Wheatsheaf Hotel have been preserved in-situ – to form part of a public archaeological display and state-of-the-art interpretation centre.
Located on the corner of Marsden and Macquarie streets, V by Crown is a short walk from Church Street Mall, Parramatta train station, Parramatta Heritage Parklands and Westfield.
V by Crown is expected to be complete in 2016.
For sale are studios, one-bedroom apartments, one-bedroom plus study apartments, two- bedroom apartments, two-bedroom apartments plus study and three-bedroom apartments.
Prices start from $428,000.
*ABS Housing Finance Data 2013 – released February 11, 2014
Images and Video available on request – including artist impressions, photographs of the display apartments and computer-animated ‘fly through’ footage of the completed.
Kate Prideaux, Communications Manager
(02) 9925 0088 or 0401 863 436
About Crown Group
Crown International Holdings Group (Crown Group) is a leading Australian property group, active in property development and property investment in Sydney.
The company was co-founded by architect Mr Iwan Sunito and engineer Mr Paul Sathio in 1996.
Iwan Sunito graduated with Bachelor of Architecture (Hons) and Master of Construction of Management from University of NSW. In 1993 Iwan became a Registered Architect in NSW and was awarded the UNSW Eric Daniels award for excellence in residential design.
Paul Sathio graduated with a Bachelor degree in Civil Engineering from University of Technology Sydney (UTS) and a Masters of Engineering Science from University of NSW. Paul has more than two decades’ experience in the construction and development industry.
Crown Group was recently awarded the Urban Development Institute of Australia (UDIA) NSW President’s award – considered one of the highest property development accolades in Australia – for its resort-style development Top Ryde City Living.
Top Ryde City Living was also named best High-Density Development in NSW and ACT at the UDIA NSW awards for excellence 2013 and a Master Builders Association Excellence in Housing award 2013.
Crown Group’s innovative, waterfront development Sanctum by Crown was awarded a Master Builders Association Excellence in Housing award 2012 and its hugely-successful ICON at Homebush was awarded HIA’s (Housing Industry Association) CSR Housing Awards 2007 Apartment Project of the Year.
Since the company was founded 17 years ago, Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes.
Today, Crown Group boasts a $3 billion portfolio of projects under development and in the pipeline and is currently developing four major projects, Top Ryde City Living, a seven-tower development in Top Ryde, Viking by Crown, a 10-storey residential complex in Waterloo, V by Crown, a 29-storey residential tower in Parramatta and Skye by Crown a 20-storey development in North Sydney launched in June 2013.
Crown group launched Viva by Crown, the final stage of Top Ryde City Living in August and will launch Sydney by Crown in the heart of Sydney’s CBD in 2014.