Common areas on each floor of the 14-storey Art Apartments will feature floor and ceiling frescos by a range of modern artists.

The $9.5 million project, designed by architects Loucas Zahos for developer GuavaLime Property Solutions, was approved by the City Council’s development assessment panel last night (Monday, November 5).

Michael Loucas, a director of both firms, said each floor would have a different artistic theme.

“This is the first project where we’re integrating art into the fabric of the building,” he said.

“We’ve had some excellent (artistic) talent come forward.”

As well as the art panel on the western side, for which a design is yet to be finalised, the building will have the word “ART” embossed over three levels of its concrete eastern facade.

Between Frome and Daly streets, ART Apartments will have 48 apartments with up to three bedrooms, priced at $365-450,000, and two three-bedroom penthouses going for $1.1 million and $1.2 million.

There will be a cafe on the ground floor, parking for 10 cars, and 30 bicycle parks.

Mr Loucas said 20 apartments had sold off the plan with seven more “on hold”.

He said construction, which would take a year, would start once presales reached about 70 per cent, or 35 apartments.

Buyers included investors and professional couples.

“It’s basically couples looking for affordable accommodation,” he said.

“It’s for young professionals who want a foot in the door in the city.”

The penthouses were aimed at families, he said.