Ideal Venice Residency (GPS: 5.37339, 100.30409) is an affordable housing development in Bukit Gelugor, Penang. It is phase 2 of the former Pr1ma @ Bukit Gelugor. The property is located along Jalan Lembah with its entrance at Lorong Lembah 3. The area was formerly part of Kampung Kastam. Two roads in the area, Lorong Lembah 1 and Lorong Lembah 2, were expunged to make way for the project.
Ideal Venice Residency is being developed by Ideal Capital Venture Sdn Bhd, a subsidiary of Ideal Property Group. It comprises two 46-storey blocks offering 1,632 housing units. Each unit has a built-up area of 850 sqft. There are two floor types: A and B. Type A are affordable units given to the state government to allocate for the Projek Rumah Mampu Milik programme. Type B is sold by the developer on the open market. There are two lifts to serve the Type A units and three for the Type B units.
The car park is from levels 1 to 7. Facilities is on level 8. The initial maintenance fee is RM165 for the units with 1 standard car park, and RM175 for units with tandem car park or 2 standard car park lots. Sinking fund is 10% of the maintenance fee.
Facilities at Ideal Venice Residency include 24-hour security, multi-storey car park, swimming pool, Jacuzzi, gym, barbecue pavilion, games room, yoga room, children's pool, exercise station, family lounge, basketball court and badminton court, among others.