Private investment group Alceon is constructing a luxury Over-55s Community Apartment Project (CAP) development at Greenwich on Sydney’s Lower North Shore.

Designed by Marchese Partners, the Akoya Greenwich building will comprise 39 apartments ranging from one to three bedrooms, as well as more than 700 square metres of resident amenities including concierge, infinity pool, private library, and golf simulator.

According to Alceon Development Director Todd Campling, 70% of the units have already been sold, with the final “Premium Collection” – penthouses and three-bedroom garden apartments ranging from $3.45 million to $5.495 million – anticipated to sell out by the end of summer.

“90% of buyers are coming from the Lower North Shore, although we have had one buyer from the Eastern Suburbs who was blown away by what you can get here for your money compared to the East.

“Our customers are seeking something special when it comes to downsizing. They’re not wanting to purchase into large apartment towers where they don’t know their neighbours. They’re buying into a community here of like-minded individuals,” he said.

Akoya Greenwich is expected to complete by mid-2023; another CAP development at Greenwich, by Platino Properties, received development approval last year.