The District expands with new hotel

The District expands with new hotel

By Meg Hill

The District Docklands has announced another expansion to the suburb’s mixed-use precinct – the Nesuto Docklands Apartment Hotel.

The $100 million project by developer and The District owner AsheMorgan was announced on August 13. The 14-level building, which includes 211 apartments, has been designed by prominent Melbourne architects Fender Katsalidis.

The District Docklands CEO George Karabatsos said the new addition would form part of The District’s “long-term vision to create a modern urban village”.

“The welcomed partnership adds another layer to our expanding community hub where people can live, work and play all in the one place,” he said.

“Despite current market conditions, we are confident retail and tourism remains crucial to Victoria’s rebuild post-COVID-19.”

“The additional $100 million investment is part of the group’s continued commitment to the regeneration of the broader precinct and their ongoing investment in the Victorian economy.”

Mr Karabatsos also said the development would “assist in generating approximately 400 jobs”. The apartment hotel will be built at 80 Waterfront Way.

AsheMorgan development director Andrew White said he was confident the precinct would continue to grow.

“The continued investment in infrastructure and regeneration of The District Docklands is purpose built for the future,” he said.

“The precinct will continue to evolve into a seamless extension of Melbourne’s CBD, a complete offering that attracts both leisure and corporate visitors.”

The development will be Nesuto’s first Victorian property, joining its existing portfolio of 11 operating, and one in the pipeline, hotel and apartments hotels in Australia and New Zealand. The apartment operator is a subsidiary of Japan’s largest home builder – Daiwa House.

Nesuto CEO Mark Ronfeldt said the company’s “unique hotel and apartment hotel model” would allow it to tailor its approach to the mixed-use precinct.

Construction is expected to begin in early 2021, with the development due for completion in January 2023.

Development Victoria (DV) welcomed the $100 million expansion as a signal of “confidence in the economy and Docklands”.

“This is a positive announcement for Docklands and the project will be a great addition to the District Docklands’ precinct,” DV group head of precincts Geoff Ward said •

“The addition of a new apartment hotel development will see the precinct continue to evolve. It is a really important investment in Docklands.”

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