Princeton has announced it has completed financing for two Sydney housing developments in Botany and Blakehurst.
The two projects have a combined value of US$73 million, with construction for both scheduled for the second quarter of 2022.
The Botany project (pictured below), located at 1-5 Rancom Street and 1637-1647 Botany Road, will include the construction of 36 apartments and five retail stores with a final value of US$38 million. The suburb has seen a resurgence in popularity in recent times, with an array of parks and cafes making for a community with a city feel living with a small village pulse.
As Blakehurst attracts more luxury housing, the residential development at 6-8 Vaughan Street will include the construction of 32 apartments at a cost of US$35 million.
Princeton founders George Gadallah and Craig Anderson believe the projects will help fuel the projected growth of Sydney’s southern region.
“In recent years we have seen growth in the southern region of Sydney which has resulted in increased demand for housing. We are excited to be at the forefront of this growth and provide funding for contemporary apartment living,” says Gadallah.
The two projects further strengthen Princeton’s portfolio following the commencement of construction of the investment company’s Eurangi development in Bondi. The Botany and Blakehurst projects are expected to be completed by the end of 2023.
“It’s an exciting time for Princeton and we’re excited to add two more projects to our growing portfolio,” said Gadallah.
Visit princetonmortgagefund.com.au for more information.