28 March 2016
New York-style apartments are popping up in our inner city suburbs as often as trendy cafes.
Perhaps the two go hand in hand.
High-rise residential towers with stylish interiors, sweeping views and yes, even on-site cafes, are making it easier for a younger and perhaps less cashed-up crowd to move closer to the CBD.
“[Younger buyers] have found the detached housing market hard to get into and the apartment market is a more affordable option,” said BIS Shrapnel senior manager Angie Zigomanis. “As cities get bigger and more congested, many who work in the city would also like it to be easier to commute to and from work.”
To their credit, residential developers saw the shift years ago and have since zeroed in on areas next to our CBDs like Redfern and Chippendale in Sydney, Newstead in Brisbane and South Yarra in Melbourne.
Take for example, the Duo at Central Park building in Chippendale, which offers resort style amenities like a mixed-use recreation room and rooftop barbecue area.