Demand remains high for in-fill developments across the city, with one now complete and another's first stage 75 per cent sold.
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Davey Street's Nightingale Ballarat project, which began construction in 2020 after a lengthy application process, finished construction in December and residents have begun moving in.
According to the developers, all 27 apartments are now sold, with the final units, allocated to community housing provider Housing Choices Australia, in the process of being tenanted.
FROM 2020: Nightingale Ballarat construction under way
Some of the new apartments are specialist disability accommodation.
Work is also ongoing on the fit-out for a cafe on the ground floor.
A Nightingale spokesperson said the completion of the building was a "watershed moment for a regional city facing the challenges of urban sprawl and climate change".
"(It's) an example of medium density done really well while celebrating Ballarat's rich history in form," they said in a statement.
"It's been a really successful outcome and we're really keen to return to Ballarat in the near future."
Developer Joseph van Dyk from Hygge Property is also working on a number of other projects, including the 61-apartment Lyons Place building on Lyons Street North, at a former Loreto College site.
"We launched to market six weeks ago, and the reception has been excellent, we've sold 75 per cent of the first release," he said.
"It's 90 per cent owner-occupier, 100 per cent locals, and the feedback has been overwhelmingly positive which proves to us there's a market and high demand for high quality sustainable inner-city housing, and gives us the confidence to start construction in the last quarter of this year, and pursue another similar project."
Mr van Dyk said one project would be in Black Hill, and another yet-to-be-announced location in Ballarat Central.
Elsewhere in Ballarat Central, the former Haymes Paint retail store site on Scott Parade remains on the market, with Haymes chief execute Rod Walton confirming it still holds a mixed-use planning permit, which includes commercial and medium- to high-density housing.
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"Haymes Paint has received interest from several parties," he said in a statement.
"Haymes Paint supports the council's view that the site is medium to high-density residential housing.
"No other uses are being considered at the moment on Haymes Paint's behalf.
"With paint being manufactured on the site until the early 1990s, Scott Parade has been the home of Haymes Paint from the very beginning and will be missed."
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