Karidis Corporation has started construction of the final stage of its coastal lifestyle village, Avista Glenelg, delivering another 70 high-end apartments in the heart of Adelaide’s premier beachside destination.
The $39 million seven-storey project, on Durham Street, will feature 14 spacious two and three-bedroom retirement living apartments and 56 serviced apartments just two streets back from Glenelg beach.
The new tower will be crowned by a 230sqm community centre featuring a kitchen, dining and entertaining areas for residents and their guests who will enjoy sweeping panoramic hills and sea views.
An existing local heritage-listed building will be restored and incorporated into the design, which also features ground floor retail and basement car parking.
Karidis Corporation’s chief executive Peter Karidis said Avista Glenelg provides premium amenities and lifestyle in one of Adelaide’s most cosmopolitan suburbs.
“Stage 3 has taken years of planning and negotiation with the State Government to secure approval of a building of this size and amenity and we are proud to see work finally begin,” he said.
“The 14 retirement apartments will be for retirees desiring a modern apartment in a premium location within walking distance of bustling Jetty Road and the beach.
“So far nearly 100 potential buyers have registered their interest for one of the retirement apartments – which will be located on levels 4 and 5 of the new building – highlighting the demand for high-quality lifestyle retirement living close to shops and services.
“The strong demand for lifestyle villages in such a key location near a wide range of amenities has inspired our company to pursue opportunities for new projects.”
The new retirement apartments in Avista Glenelg Stage 3 range in size from 81.4m2 up to 116.6m2 and provide uninterrupted views over Jetty Road to Glenelg Beach.
There are presently 55 retirement apartments in Avista Glenelg which welcomed its first resident in 2008.
All residents in Avista Glenelg have access to a gym, a heated indoor pool and spa, and 24-hour personal emergency monitoring.
Karidis Corporation will own and manage the new 56 serviced apartment located on levels 1-3 of the new building.
The State Commission Assessment Panel approved Avista Glenelg Stage 3 in 2019. Work is expected to be completed by early 2024.
Karidis Corporation has partnered with Cheesman Architects and Schiavello Construction to deliver the project which will employ 109 construction crew.
Find out more at www.avistaglenelg.com.au/avista-stage-3
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