Real estate agent Chris Kwinzak said the sale of the building was a big win for the local community.
“We’ve been working on this project for a long time,” he said.
“And it’s been a real positive, we’re really pleased to have this opportunity to be able to bring it to life.”
The property, located at 6th Avenue and 2nd Street, is a mixed-use building with two retail spaces and a parking lot.
It was built in 1976, and had an estimated value of $1.5 million when it was sold last year.
“It was a very long time ago,” Mr Kwinzy said.
He said he hoped the project would bring people together and make the area a more desirable place to live and work.
“There are a lot of new residents, a lot more people in the area now, it’s not the same old, it needs to be better known,” he added.
“The community will appreciate it because they will see that it’s actually part of the community.”
Mr Kwinzz said the redevelopment of the area had been “a real eye-opener” for him and the local residents.
“When you see that, you’re like ‘Wow, I think we can make it better’,” he said, adding he hoped to attract more businesses to the area.
“I’m really excited about that.”
The local council has announced it will host community discussions to discuss the project, which will also include the creation of a community garden.
The council said the garden was a “key piece of the revitalisation plan” to make the community more welcoming.”KW’s is one of the most iconic landmarks in Melbourne and will remain a beacon for residents and visitors alike,” it said.
Topics:local-development,community-and-society,melbourne-3000,vic,adelaide-5000,vicnews,vicMore stories from Victoria
