Residential builders Kapitol have won the contract to deliver developer CASA’s 671 Chapel Street project at Melbourne’s South Yarra.
The $350-million project at the north end of the Como Precinct has been designed by Bates Smart.
It comprises 126 apartments across 20 storeys as well as 270sq m of ground floor retail space and 1270sq m of commercial space.
The development includes a gym, lap pool, sauna, steam room, spa, cold plunge, conservatory, residents’ lounge, library, and a private dining room and bar.
Pet and car wash services, electric vehicle charging stations, end-of-trip facilities, co-working spaces and meeting rooms are also among amenities.
The build-to-sell project is the first for CASA, which is a sister brand to premium build-to-rent specialist HOME.
CASA is owned by the private real estate fund specialising in the Australian living sector GFM Group (GFM), which set up CASA in 2022 and now has more than $1 billion in its pipeline across NSW and Victoria.
CASA is actively developing three sites.
GFM’s HOME portfolio includes 1500 completed apartments and 1000 under construction.
Work on 671 Chapel Street has begun after the completion of demolition works; basement works are now under way.
Kapitol is the second-largest privately owned construction company in Victoria, and was established in 2018 by Dave Caputo and Andrew Deveson.
It has a workbook of $1.7 billion and a pipeline of more than $2 billion.
