The Perkins and King Building is one of three new East End apartments within four city blocks in the CBD.
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These highly anticipated homes are just the start of more developments coming to the East End.
Developers, and plenty of locals, believe that the new apartments (and shops and restaurants that are coming with them) will completely transform this part of the city.
"That whole concept is it's an urban village," site manager Jamie Boswell, from Iris Capital, says.
"When we go for a walk around downstairs, and there's no back end of the building, it's very Melbourne lane-ish.
"Every side is activated."
Activation is already evident. A Metro Woolworths opened on Tuesday and the courtyard area is bustling, bringing a different vibe to the abandoned alleys and nearby construction sites.
When shops and outdoor dining areas are established, developers envision people using this new space 24/7.
"So we put in two levels of underground basement parking. That enables us to have the ground floor so we have shops fronting Perkins, King, Wharf and Hunter," Boswell says.
"Then we've put in a 24-hour public access lane to the centre of the property,"
He says the Perkins and King building is the most architecturally significant of the three buildings. The other two are called Fabric House and Washington House.
It was designed by SJB Architects. The primary design inspiration was the buildings' heritage character. They wanted the buildings to fit the surroundings. They introduced east-west connectors throughout the sites to establish a central area, or "heart". They imagine kids playing and people gathering during the day, and adults eating and drinking in the evening.
Perkins and King has more than 200 apartments. So far, more than 90 per cent have been sold, with over 80 per cent bought by owner occupiers. All three bedrooms of this ninth-storey apartment have sweeping views of Newcastle, including the beach and Christ Church Cathedral. With plenty of windows, natural light and lovely airflow, it's an incredible way to appreciate the city.
It's an incredible way to appreciate the city.
This particular apartment is estimated to sell for $2.2 million.
Styled by Shae Mcleary, the apartment features high-end finishes, Smeg appliances, a dishwasher, double-door refrigerator and Caesarstone island bench.
All bedrooms have built-in robes, and the master bedroom has a walk-through robe leading to an ensuite. The terrazzo tiled bathroom and ensuite also have Caesarstone vanity benchtops.
The apartment has a study nook and a laundry with a clothes dryer. It has two car spaces with additional storage, and it has CCTV coverage and an internal security system.
The building has two levels of landscaped terraces for occupants and their guests. Level one looks over Lyric lane and level six looks to the cathedral.
The terraces have barbecues, seating and kids' play areas. The high garden beds and trees make a great space for small gatherings
Boswell says the village lifestyle of the buildings is attractive.
"We have buyers here for lifestyle reasons. We've got the harbour, three beaches within walking distance, the university. It's half an hour to Newcastle airport." Boswell says.
Ten years ago, it was the location of the highest trading David Jones in the state. At one stage it was a department store called Scotts.
Many in Newcastle's creative community remember it as a Renew Newcastle project, occupied by artists and business owners working to activate Hunter Street.
Iris Capital bought it from GPT in 2016.
Mark Kentwell and Jesse Wilton of PRD remember how bad the mall was back in 2013, and how it at times felt unsafe.
They believe these premium apartments are paving the way for other adaptive developments.