Melbourne-based developer Golden Age Group continues to parlay their success in hospitality into homes, unveiling its latest residential project, an apartment complex called The Emerald that was completed late last year.

Located between the Shrine of Remembrance and Albert Park Lake, the building's distinctive, curvaceous form was designed by architectural practice The Buchan Group to resemble the water of nearby Albert Park Lake. The group used moulded glass to create an external skin that appears to undulate like a ripple of water. “We set out to create a design that was worthy of the site, aiming to create a connection between the building and the surrounding gardens and lake," said Nick Nigro, Principal at Buchan Group. "The ripples and waves found naturally in the gardens and lake inspired a concept that stands out from nearby towers and relates to its context.”

Golden Age Group managing director Jeff Xu said the building, which has 289 apartments over 19 levels, aimed to offer a luxury lifestyle at an affordable price and had been snapped up by a mix of investors and owner occupiers. The cheapest one-bed apartment cost $338,000 while the most expensive three-bedroom penthouse cost $3.5 million. There are five apartments left, including one penthouse.The first tenants have already moved in. “We went to market with The Emerald in 2010 and sold it quickly due to its location, quality and expected return on investment. We intentionally created larger-than-usual apartments for the price point and have kept ongoing costs low by minimising communal facilities,” he said. These include a 400 square metre communal rooftop with a spa which overlooks the CBD skyline and Shrine of Remembrance.

Xu established Golden Age Group in 1998, and it owns and operates nine restaurants under the Hutong Group brand in Melbourne including Hutong Dumping Bar, Man Tong Kitchen and Ten Miles. Xu's first residential development was Jade, a 65 apartment building in Box Hill that won the 2011 Royal Australian Institute of Architects state and national award for residential projects. He then built Melbourne’s five star Sheraton Hotel and apartment development at 27 Little Collins Street, and is currently building Victoria One, the tallest residential tower in Melbourne’s CBD.

This year, Golden Age Group will unveil plans for apartment projects at 466 Collins Street and 450 St Kilda Road in Melbourne. It also has interstate plans after making an acquisition at The Rocks in Sydney in October 2014.

The Emerald's two commercial spaces have yet to be leased.