New apartment block for Olympic Park

Real estate in Sydney is currently in the process of receiving a huge new residential development in the west of the city..

Australia Towers at Olympic Park is now into its third stage of construction with the building of The One Australia Avenue apartment block.

Once completed, the building will stand at 120 metres - the tallest building in all of western Sydney.

The apartment complex will house 300 units in a 30 storey monolith - with construction expected to conclude by 2015.

The first building in the Australia Towers complex was completed in 2012 and consisted of 216 units that house 600 people.

The second complex - ATII (Australian Towers 2) - is due to be finished next year with the majority of the 267 apartments already sold.

One Australia Avenue will consist of a gymnasium and a number of retail and commercial spaces.

Property Observer reports that three-bedroom apartments range between $795,000 and $1.4 million.

The most expensive apartments up for sale in One Australia Avenue are four-bedroom homes, ranging between 133 and 166 square metres - costing between $960,000 and $2.6 million.

News Limited reported that the state government is expecting the area to reach a population of 50,000 by 2030.