Property Observer<\/i><\/a> reported that one-bedroom units between 527 and 700 square feet in size were selling in the $326,000 – $518,000 range, two-bedroom units with 570 to 967 square feet of space were going for $393,000 to $893,000, and the 1,205 to 1,292-square-foot three-bedroom residences were being purchased for $893,000 to $1.1 million, after experiencing a 3.3 percent value increase over one year\u2019s time, according to MAB\u2019s website The Quays now boasts a starting purchase price of $411,000 \u2013 although it doesn\u2019t specify for what number of bedrooms. Back in December 2013, MAB had announced that all of its units had been under contract.<\/p>\nThe project, which started construction in February 2012, is located on the corner of Docklands Drive and Harbour Esplanade, vis-\u00e0-vis Etihad Stadium. It comprises two high-rises, the 32-story South Tower and the 27-story North Tower, designed by award-winning architecture firm McBride Charles Ryan. The Quays features a fluid, organic design with a color palette evocative of pearls and coral. The project\u2019s design emphasizes the feeling of community, featuring 24,326 square feet of resident community space. Broken into three main focus areas – a ground-level atrium, a resident lounge on the first story and a rooftop garden atop the podium \u2013 community spaces contain luxurious, resort-style amenities. Whereas the rooftop garden offers a tennis court, landscaping, a clubhouse with outdoor seating and BBQ equipment and breathtaking harbor views, the resident lounge comprises a kitchen and dining area for private events, a library, poker room, 20-seat cinema, boardroom and business amenities. The atrium contains a fitness center, yoga studio, ballet barre, pool and sauna. Below-grade parking and street-level retail options are also available.<\/p>\n
The Quays also incorporates a bevy of sustainable features, such as high-performance glass fa\u00e7ade, and water-efficient fixtures. The traditional draining system was replaced with rain gardens and tree pits, while a rooftop water harvesting system will supply water for cleaning and irrigation, the pool and common area restrooms.<\/p>\n
Leasing and management services are provided by Lucas Real Estate.<\/p>\n
MAB Development launched NewQuay precinct in 2002, wanting to be part of the Docklands redevelopment that is changing the face of Melbourne. The waterfront precinct of NewQuay, located on Victoria Harbour, is a grand mixed-use project that includes residential developments such as the Grand Mercure Apartments and Promenade at NewQuay Melbourne, commercial buildings such as the The Quarter and 395 office buildings and a bevy of waterfront restaurants and bars.<\/p>\n
The Melbourne Docklands is a 470-acre urban renewal project first imagined in 1991, aiming to rejuvenate the once-dilapidated city docks under the oversight of Places Victoria (former Docklands Authority). The project currently boasts the highest concentration of Green Star-rated buildings in the southern hemisphere. Upon its 2025 completion, it will be the home of approximately 20,000 residents and 65,000 workers and will have attracted around $15.6 billion (AUD 17.5 billion) in private sector investments.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brookfield Multiplex has completed the construction of the $161 million The Quays residential project in the NewQuay precinct of the Melbourne Docklands. <\/p>\n","protected":false},"author":49,"featured_media":1004092079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,16,21742],"tags":[],"class_list":["post-1004092074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-international","category-latest"],"acf":[],"yoast_head":"\n
Brookfield Multiplex Develops $160M Residential Project in Melbourne - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brookfield Multiplex Develops $160M Residential Project in Melbourne\" \/>\n<meta property=\"og:description\" content=\"Brookfield Multiplex has completed the construction of the $161 million The Quays residential project in the NewQuay precinct of the Melbourne Docklands.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-03T15:26:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T05:52:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/The-Quays.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"534\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"Brookfield Multiplex Develops $160M Residential Project in Melbourne\",\"datePublished\":\"2014-03-03T15:26:08+00:00\",\"dateModified\":\"2020-05-19T05:52:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/\"},\"wordCount\":534,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/The-Quays.jpg\",\"articleSection\":[\"Development\",\"International\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/brookfield-multiplex-develops-160m-residential-project-in-melbourne\\\/\",\"name\":\"Brookfield Multiplex Develops $160M Residential Project in Melbourne - 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<\/a><\/p>\n