PRELIMINARY works are underway for The Hill's residential development Sovereign Park following DA approval in July and a launch event held at the Darby Street display suite last week.
The Stronach Property development, which is earmarked for completion in 2025, will comprise three low-rise buildings with 155 apartments and an arc of 11 townhouses with landscaped gardens, an infinity pool, outdoor gym and a wellness deck.
Sovereign Park marks the next chapter in the area for Stronach Property following the development of Regency Park on Queen Street in Cooks Hill two decades ago.
Colliers residential director Ed Crawford said the development supported a growing demand for more housing in the blue-chip area.
Mr Crawford said there had been growing interest from buyers locally and interstate, with 32 of the 166 apartments sold so far.
"What we are finding is that buyers are attracted to the location," Mr Crawford said.
"The location is exclusive because there aren't any more opportunities in that part of the city. If you look at Newcastle West there are lots of sites and a lot being built. Here is very unique and it has been designed to fit into that part of the city very nicely.
"They went through a fairly rigorous DA progress for about three years and because it is such a special location, the design is very sympathetic to that."
Located at the old NBN Studios site at 11-17 Mosbri Crescent, the development is positioned next to Arcadia Park and close to Darby Street, King Edward Park and The Obelisk.
"It has been a long road to get here and having a DA is all important because having that means you can get on with things," Stronach managing director Keith Stronach said.
"We went through the process with the regional planning panel recently and it was heavily scrutinised but it is approved now and we are ready to go."
Pricing starts from $599,950 for a one-bedroom apartment up to around $990,000 for a three-bedroom.
Penthouse options are also available.
