Poly enter JV on Box Hill Resi Site24 February 2020
Poly Australia continues to prove its long term commitment to growth across Australian shores with the announcement of joint venture partnership with Longriver Group at 843 Whitehorse Road, Box Hill.
The permit approved site spans across approximately 1,985sqm and currently allows for a residential development of 276 apartments across 37-storeys, with a retail and office offering, right by the hub of the rejuvenating suburb.
Poly Australia and Longriver Group plan to emulate the original permit, with a creative and catered offering that best serves the needs of the community.
Poly Victoria Executive Director Steve Wang said the developer acknowledged the rapid population growth in Box Hill and as the suburb continues to densify the opportunity to provide its expertise in superior high-density development in partnership with Longriver Group was identified.
“We [Poly Australia and Longriver Group] are working closely with the community and council to ensure that the final design appropriately caters to future projections of this thriving precinct.
As one of Melbourne’s booming districts, Box Hill, provides an opportunity to re-think and re-create city living as our community evolves.
Labelled the second CBD of Melbourne, buyers are relocating to the eastern suburb due to its revived offerings and affordable living. Not to mention the continuous increase in commercial and retail quarters popping up in the highly connected area, which is already home to substantial entertainment, educational, health, retail and commercial precincts.
All of this combined reaffirms the continued population growth forecasts in the area and meets the requirements we’re looking for as we continue to broaden our development portfolio,” said Poly Victoria Executive Director Steve Wang.
Preliminary planning of the new design identified the possibility to provide the community with a 34-storey mixed-use residential apartment building encompassing up to 40,400sqm.
Still in the design stages, the development could accommodate one residential tower, with significant retail and commercial integration, and a range of attractive residential amenities including health, wellness and community offerings.
Demolition of the decommissioned petrol station onsite will commence in Q1 2020. With the architecture tender process currently underway Poly Australia and Longriver Group intend to submit the revised residential scheme to council mid-2020.
Longriver is run by Yunhe "Andrew" Yu and has a big portfolio of residential projects on its books. The company is developing a 280-unit tower at 820 Whitehorse Road as well as a $90 million hotel at 878 Whitehorse Road, having recently completed the $95 million La Trobe tower in the CBD with 206 apartments. Longriver acquired the 843 Whitehorse Rd site in 2017 for $23m from petrol station operator, Andreas Andrianopoulos.