Morris Property Group’s (MPG) Park Avenue has reached its highest point, topping out at 54 metres high in a milestone for the development’s construction.

The $110 million development on Allara Street in the City will “breathe new life into a city centre buffeted by the impact of COVID-19,” according to MPG construction director James Morris.

“The development will bring more people into the city, meaning more active streetscapes and additional trade for local businesses including shops, restaurants and cafes,” he said.

“We’ve had great interest from live-in buyers including young professionals, downsizers and first home buyers who want a city lifestyle that also offers a sense of escape.”

Morris said the demand for the project, as well as construction remaining on track throughout pandemic restrictions, showed the Canberra market was “weathering the storm”. Park Avenue, upon completion, will have provided over 1,000 jobs for local workers.

Already, 75% of the 184 apartments within the 17-storey development have sold.

“Park Avenue proves that there is still significant demand for high-quality apartments in sought-after locations,” he said.

“And being in the heart of the city and just minutes’ walk from Braddon, New Acton and ANU doesn’t mean residents have to compromise when it comes to their home environment. Park Avenue is on one of the city’s quietest streets, is next to beautiful Glebe Park and a stone’s throw from Lake Burley Griffin, which gives them the best of everything.”

The building’s exterior will feature a ‘large-scale kinetic façade’, with over 25,000 aluminium panels that represent Lake Burley Griffin.

“This striking and dynamic feature is something truly special and will be an engaging piece for people walking by the site,” Morris said. MPG introduced Canberra’s first-ever kinetic façade on their Highgate development in the city in 2018.

Construction on Park Avenue is expected to be completed by December this year, with the first residents anticipated to move in in February 2021. Remaining apartments range from $455,900 for a one-bedroom apartment to $1,879,900 for a three-bedroom penthouse.

Find more property news and listings at Canberra Daily Real Estate.

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