Psaros has a crack

03. 805NEWSA SIGN went up Monday announcing Psaros had taken over development of the Beaufort Street block that’s been plagued with legal troubles.

It’s almost four years now since developer Steve de Mol’s builders started sheetpiling on the site, a deep drilling process that badly damaged neighbouring buildings.

The mixed office/unit development was put on hold as neighbour Lyndon Rodgers took Mr de Mol to court seeking damages.

The site sat dormant in the meantime, collecting garbage and the occasional piece of furniture dumped in the pit, and Vincent council made Mr de Mol erect a fence around it.

Now Psaros has taken over the project. Danny Psaros’ company has had a huge number of apartment developments sprouting up recently, including Edge on Newcastle Street, Depot on Brewer Street and Bravo on Oxford Street.

We didn’t hear back from Psaros, but Vincent CEO John Giorgi confirmed that while the company had floated some drafts by the council’s design advisory committee, a full development application hasn’t yet been submitted.


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