$130m Woodville West development taking shape
Rosslyn Lauder has just moved into the The Square at Woodville West. Source: News Limited
AN OVERHAUL of Woodville West is beginning to take shape, with more than 35 apartments sold in a housing development next to Albert Park railway station.
The $130 million development, known as The Square, involves 180 homes - the majority owned by Housing SA - being razed and replaced with 450 townhouses, apartments, lofts and villas.
Project sales consultant Chris McCauley said several small parks had been built and work on cycling and walking paths would soon be underway.
He said he expected nine more completed apartments, at the corner of West Lakes Blvd and Clark Tce, to be sold within four weeks.
"The apartments are attracting young professionals aged in their 20s and 30s who want easy access to the city," Mr McCauley said.
"These people will likely grow out of the apartments when they want families but they can see the future rental value because they are only 150m from the Grange train line which goes into the city."
Mr McCauley said Woodville West was one of several western suburbs, such as Ferryden Park, which were being overhauled from Housing SA precincts into solid investment opportunities.
"A lot of buyers have been able to take advantage of both the first homeowner's grant and new construction grants, which could apply to them."
The project will include some properties held exclusively for first home buyers for 90 days and social housing for people with disabilitites.
About 35 residents have already move into the development, including Rosslyn Lauder, who said it was the proximity to both the beach and city which drew her back to the western suburbs after living in Glenside for 19 years.
"It is really great to see how much the are has grown since I left," Ms Lauder said.
"I looked at Glenelg and Norwood but this just felt like it was better value and I could not be happier here."
A spokeswoman for Renewal SA said the homes were selling faster than forecast.
The remaining sales will mark the end of the project's first stage, with a further five stages to be completed.
The development, which is planned to include a central square with shops, public art spaces and a cafe, playground and plaza, is expected to be finished in 2018.
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