AUSTRALIAN designer Adam Bali says he is willing to bid on Melbourne’s highest-profile building, the Bali Tower.
Key points:Adam Bali wants to buy the Balis $4.2 million-dollar building, called the Balies $3.7 million “top” buildingBali is a member of the International Association of Architects and has been working on the proposal for more than a yearThe project has been in the works for about five yearsMr Bali said his company has already spent over $3 million on the project, which will be located at the corner of Bali Road and the Baliscounty Street site, on the western edge of the CBD.
He said he wanted to build the building to the specifications of the architects and has also consulted with the City of Melbourne.
“The main issue that is on my mind is the cost of this building,” he said.
“It is a great piece of infrastructure that will benefit Melbourne.
The City of the future will want to use this as a major development.”
He said his team would not be moving into the building until it had completed its design.
“We have got to finish our design and we will finish our building,” Mr Bali told 774 ABC Melbourne’s The Day Show.
“I would like to buy it as soon as possible, but if I can’t sell it in a year or two years time, then I am willing to sit and let it go.”
Mr Balis said the building’s designers had been working for about a year on the design.
He had been contacted by a group of architects who were interested in the project.
“This is the first building that I have heard of, I was actually in a meeting with them,” he told 776 ABC Melbourne.
Mr Balid said the Balises design had been approved by the Department of Transport.
“They have already spent about $3,000 on it,” he added.
“And the Department has agreed to fund it as long as it is in the City’s favour, so the cost will be covered.”
He estimated that the project would cost around $2.5 million to $3m.
The architect, who is also the chairman of the Melbourne Architectural Institute, said he had also been contacted about the Balics proposal.
“What I am trying to do is give people a chance to actually have a look at this project and I want to see if it is something that could be an asset to the City,” he explained.
“So it is not something that the city is taking for granted and I think that’s the reason that I am doing this.”
The project will be part of the “top building” plan, which aims to make Melbourne more attractive to foreign investors.
Mr Tregoulis said it was the first major building to be proposed for the City by an international firm, with the Baliders proposal being one of the first to be approved by a departmental committee.
“There are other projects that have been in development over the last five years and there are a lot of projects that are still in development and there is a lot to do and it is important for the future of Melbourne to have these projects coming to fruition,” he commented.