Thursday , February 25 2021
Breaking News
Home / Business / Poly looks to NDIS-friendly apartments as construction slows

Poly looks to NDIS-friendly apartments as construction slows

“At our Lily Garden development … we have taken the opportunity to seek advice from the NDIS about how to make our products most suitable for people with disabilities,” the spokeswoman said.

Loading

Construction on the Richmond project, which includes a public garden and 200 square metres of retail space, was due to start in mid-2019 after the site was cleared.

The spokeswoman did not say when construction will recommence.

It’s not the only Richmond development delayed by the pandemic’s onslaught. In nearby Burnley Street, local developer Joe Chahin’s Peregrine Projects was slated to start construction in December 2019 on a speculatively built office at No. 175.

Mr Chahin told The Age in Febuary last year that work had started at the site just before Christmas and was expected to ramp up in March.

Since the pandemic hit, Peregrine’s $100 million office appears to be on hold, with little or no activity on the site over the last year. Mr Chahin could not be reached for comment.

Poly has said it “remains strongly committed to our projects in Australia” and maintains it is well positioned for when things pick up again.

“We have always believed in adding value to the assets we own in Australia. While some companies simply hold assets, we invest to improve the lives of our employees and our owners,” the spokeswoman said.

Poly’s Australian arm has about 20 commercial and residential projects on the go in NSW, Victoria and Queensland.

Late last year, after a lengthy series of negotiations, it walked away from a $300 million deal with global developer Lendlease which would have resulted in it buying a 200-hectare residential development in Sydney’s south-west.

The group has a flagship $500 million project under construction in Sydney’s Circular Quay, the 107-metre tall Grimshaw-designed Poly Centre tower.

But the company declined to answer questions about the progress it is making on its efforts to offload a $500 million half share in both the Poly Centre and its sister tower at 1000 La Trobe in Melbourne’s Docklands.

Most Viewed in Business

Loading

About admin

Check Also

Morrison’s JobSeeker boost is stingy, mean and bad for the economy

Now contrast this, of course, to the generosity shown to JobSeeker recipients, who learnt this …