Psaros / News

A Decade of Development Makes The Difference

Psaros is celebrating ten years of developing Perth’s inner-city North East.

The completion of The Chelsea on Beaufort Street makes it the twelfth project the company has built in the last decade over a one square kilometre radius immediately East of Northbridge. The extent of development has completely transformed the precinct from semi-derelict to a vibrant cosmopolitan district.

Psaros CEO Danny Psaros said, “The increase in apartments has had a tangible benefit on the area. As people have moved in - over 1,000 new residents in Psaros apartments alone - we’ve seen more restaurants, cafes and retail outlets pop up, leading to more people wanting to move to the area and the cycle continues”.  

As old warehouses and car parks have been turned into striking buildings housing hundreds of new residents, Perth’s inner city North East has become prime real estate. It is one of the last inner suburbs to be redeveloped.

Urban renewal is not a new concept to Psaros, the company were pivotal in the rejuvenation of East Perth in the nineties where they built 5 projects within the regeneration area.

“Regeneration of inner city areas is inherently more sustainable than the urban sprawl the city is currently experiencing”, said Mr Psaros, “We’re proud of the positive impact apartment development has had on this once forgotten area. The completion of The Chelsea is indeed a milestone, it’s not only the twelfth project in ten years, it is also representative of what Psaros is about – exciting, sustainable lifestyles. Situated in the heart of this emerging area it is surrounded by culture – art, music, food, fashion. This is also one of the few sustainable developments and features a communal edible garden, solar power and energy monitoring, among many more elements.”

The Chelsea is a boutique complex featuring just 41 one and two bedroom apartments over 5 levels – there are limited apartments remaining – visit for more information

Perth's Inner City North East 2007

Perth's Inner City North East 2017