It's all about a low-maintenance lifestyle at The Luxton apartments.
If you are young, gay and like to party there is a new apartment to suit your lifestyle.
Female hipsters seeking self-expression are also being catered for, and downsizing boomers looking for luxury in Melbourne's leafy eastern suburbs haven't been forgotten.
Smaller developers are focusing on the city's lifestyle subcultures as they battle for a point of difference in an increasingly competitive market.
In Melbourne's late-night clubbing heartland of Prahran a 60-unit building marketed at the ''party boy'' set sold out within six weeks.
The Luxton, under construction opposite a sizeable car park on Chatham Street near the corner of Chapel, includes floor plans ''configured for easy, low-maintenance lifestyles'' and all-black interior finishes.
Peregrine Projects developer Joseph Chahin said his ''due diligence'' for the project included sitting on the corner of Chapel Street at 3am to explore buyer interest.
There was a niche market for the ''guy or girl who is partying until 3 in the morning … [whose] home is just a place to rest or to continue to party from and go to recovery the next morning'', Mr Chahin said.
The largest top-floor apartment sold for $900,000. ''The guy who bought it said, 'I want to party here'. He already had a house,'' Mr Chahin said. Another Peregrine project called Zac in the same suburb on High Street focused on alternative ''hipster'' buyers. ''Without expecting it, we attracted a female demographic who saw it as a safe place to live,'' he said.
In Fitzroy North, Moda Corp is seeking planning approval for a four-star green star building with a focus on sustainable features. The 76-unit project at 243-247 Queens Parade will include a mix of one, two and three-bedroom apartments with a vegetable garden on the roof and landscaped terraces to fit with the area's ''sustainability mindset'', director Ed Farquharson said.
Moda Corp last week purchased a high-profile Malvern site at 1271-1273 High Street for $5 million eight days after it was listed in an off-market deal executed by Colliers International's Ben Baines and Ted Dwyer. It intends to target downsizing baby boomers.
The group has submitted plans for another building of 20 apartments at 86 Burke Road, Malvern East. Five of the units in the Bruce Henderson-designed building will have three bedrooms, a key point of difference for older buyers.