A traditional topping-out ceremony has been held to celebrate a key milestone in the construction of Canberra’s $110 million Park Avenue development, which is expected to revive the city centre.
Based on what is thought to be an age-old Scandinavian tradition of planting a fir tree to appease spirits that may have been displaced during building works, an olive tree was hoisted 54 metres and planted on the building’s roof during Friday’s celebration.
Morris Property Group construction director James Morris said the 17-storey Park Avenue development would breathe new life into the CBD.
He said Canberra had been buffeted by COVID-19 but the development remained firmly on track for completion by December and would welcome its first residents in February 2021.
“The development will bring more life into the city, meaning more active streetscapes and additional trade for local businesses, including shops and cafes,” Mr Morris added.
Bordered by the Canberra Centre, Crowne Plaza Hotel and tranquil Glebe Park, the development offers a mix of one, two and three-bedroom apartments complemented by contemporary landscaped gardens and a state-of-the-art gymnasium and communal family barbecue area.
More than 75 per cent of Park Avenue’s 184 apartments have sold, with available properties now ranging from $455,900 for a one-bedroom apartment, up to $1,879,900 for a three-bedroom penthouse.
Despite the pandemic’s impact on the property industry, Mr Morris said the Canberra market was weathering the storm and there had been strong demand for the project.
“Park Avenue proves 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 the best of everything.”
The building is set to impress, with a large-scale kinetic façade featuring more than 25,000 powder-coated aluminium panels representing nearby Lake Burley Griffin.
Mr Morris said the kinetic design had been adopted by other developers in Canberra since the Morris Property Group completed its Highgate development on City Walk in 2018.
“This striking and dynamic feature is something truly special and will be an engaging piece for people walking by the site.
“We are proud to be setting the agenda for truly beautiful buildings in the nation’s capital,” Mr Morris added.
Morris Property Group’s joint venture partner in the development is HPI Group. HPI Director Barry Morgan said it was an honour to be partnering with MPG on a project of this significance.
“Park Avenue is going to be a great result for its residents, and also for Canberra,” Mr Morgan said.
“It signals a reinvigoration of this side of the city.”
You can view Park Avenue online, and visit the display suite on the corner of City Walk and Allara Street daily from 10:00 am to 3:00 pm.