Yello is Chard Development's first purpose-built rental residential project in Victoria and the company's largest residential development undertaking to-date.
Note: this property was originally rezoned for two towers of 17 and 11 floors by Dubai-based Emaar Properties, developers of the World's Tallest Building, the Burj Khalifa in Dubai. Chard purchased the property in 2011.
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6,600 square feet of ground floor commercial space across two units will front onto Yates Street.
Noticed that today is the 11th anniversary of the rezoning approval for this site, but not the current building. It was for the Robbins/McColl proposal that pre-dated the Emaar proposal that predated Chard's Yello. I can't remember why the three partners weren't able to follow through. All they needed was the relative formality of a development permit.
I also wouldn’t be surprised if the money markets were already pivoting well ahead of the plug being pulled. If you want to know where things are headed follow the lenders. They’re always five steps ahead.
I'll always wonder about the circumstances surrounding why and how in 2008 a luxury real estate company from the UAE found this property and thought it would be the latest jewel in its portfolio.
Somebody should have told them Blanshard and View isn't exactly Fifth Avenue luxury. Anyway, I'm glad Chard eventually got it and actually built something.
Approximately 1,500-units of condominiums and purpose-built rental apartments will receive occupancy status over the next two years.
The 209-unit highrise spanning the 800-blocks of Yates and View streets is scheduled for completion by early next year.
Chard Development is readying for the launch of the company's largest Victoria project to-date while its Escher condo project is one unit away from sold-out status.