Crown Group Plans $400M Project in Sydney with 7-Storey Waterfall

Posted on Dec 14 2017 - 1:00am by Business Day TV

Sydney harborWould you live in an apartment complex in Sydney that will have the tallest man-made waterfall in Australia? That is the main feature of a $400-million residential development inspired by the urban jungle.

Crown Group has planned to build the Waterfall project in the inner-city suburb of Waterloo, which may not be a coincidence. The company drew inspiration for the seven-floor waterfall development from the Kalimantan in the Indonesian part of Borneo.

Man-made feature

Waterfall will comprise three low-rise apartment buildings linked by a bamboo-covered walkway. Sydney-based designed SJB worked on the blueprint for 331 apartments. A 20-floor building with a lagoon and other wildlife elements will surround the everyday environment of residents. The entire project would reach completion in 2020.

Crown Group has yet to start on the construction of the waterfall building. It used the Piano Keys Weir, Radius Weir, Wave Weir and Saw Tooth Weir as the four different weir types for testing aesthetics while meeting construction standards. Installation work will likely require an aerial platform, including a boom lift for sale in Australia. Craig Elgie, Crown Group national construction director, said that construction will start after they fix some minor changes to the final waterfall design.

Apartment prices

You may be wondering how much it will cost you to buy an apartment in Crown’s luxurious development or any other project. There is some short-term relief for buyers, as prices in Sydney’s apartment market will continue moderate in the next few months, according to JLL analysts.

The price moderation stems largely due to the Australian Prudential Regulation Authority’s investor lending and loan restrictions. During the third quarter of 2017, prices in the city rose 3.9 per cent year over year. The median apartment price in Greater Sydney amounts to $717,000.

READ  Why Businesses Still Benefit from Uniform Use

Crown Group’s Waterfall development represents a sustainable push for apartment construction. Instead of just building blocks, it aims to provide a unique feature to convince buyers of acquiring units either as an investment or for their own use.