Getting started in real estate

So I finally did some homework on the Viva Carlton development on the corner of Rathdowne and Princes streets.

It looks like it’s part of the Living Carlton resident project – a $300 million joint venture between Australand, St Hilliers and Citta Property Group  - and expects to create about 240 social housing and 500 private residential units across three sites in Carlton including Viva.

The project will be developed in seven stages, with the first commencing at the end of last year, and the final stages of development  earmarked for completion by 2017. But  the majority of social housing should be completed before then, it seems.

And all the private apartments have already sold out.

The dwellings are said to incorporate leading edge environmentally sustainable features such as solar and wind energy, grey water recycling and a minimum six star energy rating. The three sites will also include new public parks, a community garden and pedestrian and bicycle pathways.