AFTER more than five years, Ballarat’s largest private construction project, the $30 million redevelopment of the Lake View Hotel, is ready to open.
Twenty-two of the 34 apartments have already been snapped up by buyers, with some selling for more than $1 million, a figure unprecedented in the Ballarat market.
Developer Steven Troon, managing director of H Troon Pty Ltd, which bought the landmark property, said the development was something he was very proud of.
“As developers, we took the opportunity of turning Ballarat’s number-one address into something iconic. This was the only piece of lakeside land which could sustain such a development,” Mr Troon said.
Mr Troon believes The Parade apartments, now the highest residential building in Ballarat, signal a shift in the style of inner-city construction in Ballarat.