Sydney developer <a href="https://www.apartments.com.au/new-apartments/31-41-o-hara-street-marrickville-nsw-2204">Third.i</a>&nbsp;has announced a new transport-oriented development in one of Sydney Inner West’s most sought-after metropolitan locations, delivering much needed housing within steps of world-class public transport and vibrant village life.

Located at&nbsp;31-41 O’Hara St,&nbsp;Marrickville, the proposed mixed-use development will include around 300 apartments, with up to 17 per cent dedicated to affordable housing, reinforcing Third.i’s commitment to creating inclusive, well-connected communities that support a diverse mix of residents who keep Sydney’s neighbourhoods thriving.

Located just 100 metres from the new Metro station, the development places residents within minutes of the CBD while offering seamless access to the Inner West’s cafés, retail, and local services. Anchored within a thriving local centre, the project supports everyday living without reliance on cars, while also delivering new public open space for the local community, including a new park and landscaped green areas, alongside high-quality private resident amenities.

Florian Caillon, Head of Acquisitions for Third.i Group, said the project builds on the company’s ongoing work alongside the NSW Government to deliver housing and amenity alongside major transport infrastructure. Amenity includes an activated pedestrianise retail strip that connects Illawarra Road down to the pocket park, and health and wellness facilities.&nbsp;

“Delivering housing of this scale within an established village is a rare opportunity, and few companies have achieved residential outcomes of this size at a village centre," Caillon said.

"We are excited to set a new standard for urban living in the heart of Marrickville,” he said.&nbsp;

The inclusion of affordable housing has been welcomed by frontline workers.

“We are supportive of developments which will allow essential workers like nurses, midwives and carers, the opportunity to live in the communities they care for," said&nbsp;Michael Whaites, General Secretary of the NSW Nurses and Midwives’ Association..

“Many healthcare workers tell us they would like to live closer to where they work, but are being priced out of the market, forcing them to move further away.&nbsp;

“Dedicated apartments for essential workers will support recruitment and retention in local hospitals and aged care facilities, helping to strengthen our health system.”

The project has been declared State Significant Development (SSD) by the Housing Delivery Authority (HDA).

Joel Robinson

Third.i to deliver 300 apartments in Marrickville TOD precinct

A luxury half floor penthouse intended to be retained by Queensland developer <a href="https://www.apartments.com.au/developers/qm-properties">QM Properties</a> has hit the market as the final residence within <a href="https://www.apartments.com.au/buildings/160-macquarie-160-macquarie-street-st-lucia-qld-4067">160 Macquarie</a> apartment development, an exclusive enclave of just 33 premium apartments located on St Lucia’s riverfront.&nbsp;

The 14-storey building, <a href="https://www.apartments.com.au/developments/st-lucia-qld-4067">St Lucia</a>’s first riverfront development to be completed in over a decade, smashed the suburb record in 2024 with a 12th storey, half-floor residence selling for $6.29 million, nearly $1.5 million higher than the previous highest sale of $4.8 million in 2020. &nbsp;

[smartcode_project:default project_id=25721 project_image_fid=299769]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Residential Director, Andrew Roubicek sold three apartments within the recently completed development in 2025 and 2026 realising increases in value averaging 65 per cent compared to the original prices of the apartments sold off-the-plan.

Andrew said these sales underscored the unparalleled desirability of 160 Macquarie, located on the riverfront in one of Brisbane’s most sought after suburbs, to the local downsizer market. &nbsp;

“Most of the residents in 160 Macquarie are like-minded western suburbs people, downsizing from large homes and attracted to the design, size and expansive aspects across the river and northeast views towards the Brisbane city skyline," Roubicek said.

“Residents of 160 Macquarie also enjoy exclusive access to a rooftop sanctuary that features a range &nbsp;of lounge and dining areas with uninterrupted panoramic views. The state-of-the-art private pool, nestled beside the Brisbane River, further enhances the luxurious lifestyle on offer."

[smartcode_project:default project_id=25721 project_image_fid=299764]

This demand for high quality, riverside residences has prompted QM Properties to release the final &nbsp;half floor penthouse, previously intended to be retained by the company, which has never been occupied. &nbsp;

The brand-new luxury 246 sqm sub-penthouse, designed by&nbsp;<a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>,&nbsp;has three bedrooms, 3.5 bathrooms, a master with walk-in robe including make-up bench and ensuite with freestanding bath, open plan living and dining, built in bar and wine display, three side-by-side carparks, and an entertainers balcony with uninterrupted, never to be built out views of both the Brisbane CBD &amp; Mount Cootha.&nbsp;

[smartcode_project_cta:default project_id=25721]

QM Properties have released the final half floor penthouse at 160 Macquarie, St Lucia’s first riverfront development in over a decade  

Final luxury penthouse released following 65% uplift in values at 160 Macquarie, St Lucia

<a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> may sit just south of Melbourne’s officially designated Bayside suburbs, but this small coastal pocket offers all the hallmarks of its neighbouring areas, at a considerably lower entry point to the property market.

Trains, beaches, dog parks and retail, the pillars of any Bayside lifestyle, are all thriving in Parkdale. It was these four factors, combined with a clear undersupply of new apartment developments, that drew boutique Bayside developer Lowe Living to the suburb around five years ago.

The group secured a site on Como Parade East, where it launched, and has now almost sold out, <a href="https://www.apartments.com.au/new-apartments/kallara-house-parkdale-by-lowe-living-129-137-como-parade-east-parkdale-vic-3195">Kallara House</a>.

Now, Lowe Living has returned to Parkdale, this time with <a href="https://www.apartments.com.au/new-apartments/elanora-place-parkdale-152-como-parade-west-parkdale-vic-3195">Elanora Place</a> on Como Parade West, just a few minutes’ walk from the water.

[smartcode_project:default project_id=148731 project_image_fid=364174]

Designed by Jackson Clements Burrows, Elanora Place will comprise 40 two- and three-bedroom apartments.

While “large-scale” is a term often overused in project marketing, the residences at Elanora Place genuinely live up to the label. Entry-level two-bedroom apartments, priced from $1.15 million, span nearly 115 sqm. Larger two-bedroom configurations, including ground-floor residences with courtyards, exceed 150 sqm, while three-bedroom homes range from 180 sqm to more than 220 sqm. These are priced between $1.75 million and $1.815 million.

A select number of residences also feature EV charging stations within private two-car garages.

[smartcode_project:default project_id=148731 project_image_fid=364176]

The design of Elanora—translated as “a home by the sea”—draws on Parkdale’s architectural legacy and bayside charm, with careful consideration given to scale, materiality and local character, according to Jackson Clements Burrows.

Resident amenity has been curated to foster a sense of community, with a rooftop terrace offering sweeping bay views, built-in barbecue areas, and tranquil garden retreats designed to bring neighbours together in a relaxed coastal setting.

Construction of the low-rise development is already underway, led by Lowe Living’s in-house arm, Lowe Construction, with completion anticipated in early 2027.

[smartcode_project_cta:default project_id=148731]

Lowe Living continues Parkdale preference with Elanora Place apartments

<a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a>’ Palm Beach project Liérre has raced to 35 per cent sold within its first two months on the market, as the Queensland builder-developer prepares to start construction in the coming two months.&nbsp;

The momentum adds to a strong early response for the Jefferson Lane address, which recently secured development approval for the $165 million beachfront-adjacent scheme.

[smartcode_project:default project_id=149551 project_image_fid=364569]

Planned for a 1,733 sqm amalgamated site on the beach side of Gold Coast Highway,&nbsp;<a href="https://www.apartments.com.au/developers/bpg-developments">Liérre</a> will deliver 58 apartments, three townhouses and eight penthouses, bringing a scaled residential offering to one of the Gold Coast’s most in-demand coastal suburbs. The project is one block back from the beach, a position that has helped shape both its design approach and buyer appeal.

BPG Developments Co-founder Nick Parr said the project reflects the next stage of Palm Beach’s evolution. “<a href="https://www.apartments.com.au/developers/bpg-developments">Liérre</a> reflects the next phase in Palm Beach’s evolution as one of the Gold Coast’s most sought-after residential markets,” Parr said.&nbsp;

“Our vision was to deliver a project of enduring quality, one that responds to its beachfront location through thoughtful design and functionality.” He said BPG’s integrated builder-developer model gives the team greater control over quality, timelines and outcomes.

&nbsp;

[smartcode_project:default project_id=149551 project_image_fid=364572]

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, <a href="https://www.apartments.com.au/developers/bpg-developments">Liérre</a> draws on Palm Beach’s coastal character through what the architect describes as a calm, finely detailed response to the shoreline setting. The palette leans into raw, earthy tones such as blush and rust, paired with travertine finishes, soft curves and organic forms.&nbsp;

Plus Studio Principal Chrisney Formosa said the building was “sculpted from the rhythm of the coast,” with a shell-inspired form and sand-hued facade intended to support Palm Beach’s emergence as a design-led beachfront neighbourhood.

Residents will also have access to a substantial wellness offering, including a gym, sauna, spa, outdoor shower, and an amenities deck with pool, cabanas, sunbeds and landscaping throughout.

&nbsp;

[smartcode_project:default project_id=149551 project_image_fid=364581]

<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> has continued to attract attention from both developers and buyers as the southern Gold Coast tightens in supply.

MOTIV Founder Carly Cottam said the suburb was the fourth most searched on the Gold Coast for property, citing its community feel and proximity to beaches and dining. She said Lierre would appeal to buyers seeking a luxury address at a relatively attainable price point, particularly given the rarity of a site just one block back from the beach.

[smartcode_project:default project_id=149551 project_image_fid=364576]

For BPG, <a href="https://www.apartments.com.au/developers/bpg-developments">Liérre</a> is also part of a broader period of growth. The approval followed another recent green light for the developer’s $250 million Newstead project, taking its pipeline to around $500 million across Brisbane and the Gold Coast.

Co-founder Glen Williams said Palm Beach embodied the company’s focus on refined design, craftsmanship and long-term value over volume.

[smartcode_project_cta:default project_id=149551]

BPG’s Palm Beach project Liérre races to 35 per cent sold as construction commencement nears

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a>&nbsp;has commenced early works on its $1.5 billion One Queens Bridge development, reviving a Southbank site that has remained dormant for more than a decade.

Located on one of Melbourne’s most significant riverfront sites, the project, to be known as No.1 Queens Bridge, will deliver a 71-level mixed-use tower comprising 588 residences and a hotel, complemented by dining and wellness offerings overlooking the Yarra River.

Originally constructed in the mid-1800s, the Queens Bridge Hotel will form a central part of the development, with PDG embracing and elevating the historic pub as a key arrival point into the precinct. The landmark building will anchor a new hospitality and dining offering, including a rooftop bar, a grand atrium entry, and a proposed global luxury boutique hotel integrated into the podium levels.

Crafted by internationally renowned design studio <a href="https://www.apartments.com.au/architects/cox-architecture">COX</a>, in collaboration with ODO and PDG, the project draws inspiration from its riverfront setting. The architecture explores the movement and fluidity of the Yarra River, expressed through a sculptural facade composed of six vertical pleats extending the full height of the 71-storey tower.

The pleated form creates a distinctive three-dimensional expression that captures and reflects Melbourne’s changing light throughout the day, adding a dynamic presence to the city skyline.

Residents will have access to more than 5,500 sqm of amenities across multiple levels, creating an “urban village in the sky” that redefines how people live across generations.

PDG Founder and Managing Director Vince Giuliano said the project represents a major milestone for both the site and Melbourne’s next wave of city-shaping developments.

“This project marks the revival of one of Melbourne’s most prominent riverfront sites and the beginning of a new chapter for Southbank," Giuliano said.

"For more than 15 years, the site has remained dormant, and the recent commencement of demolition on site is a powerful signal of our confidence in Melbourne’s future and in PDG’s ability to deliver a project of this scale and quality."

Giuliano says&nbsp;No.1 Queens Bridge has been designed to deliver something truly exceptional for Melbourne, an address that brings together heritage, architecture, hospitality and residential living in a way the city hasn’t experienced for many years."

PDG purchased the 5,059 sqm site at 1–29 Queens Bridge Street in December 2024. Plans for No.1 Queens Bridge are currently before the Department of Transport and Planning, with sales due to launch in the coming months.

PDG kicks off early works on $1.5 billion Southbank tower No.1 Queens Bridge

Build to Rent

Brisbane developer Belmonde Property Group, in a joint venture with Sun Luxe Group, have filed plans for their over 1000 build to rent units in the heart of the 2032 Olympic precinct.

The project, dubbed Gabba Heart Precinct at 79 Logan Road, will see four towers built, three of which will home 1,387 build-to-rent units. The fourth tower will be part hotel, part serviced apartments.

The towers will rise above three podiums which will comprise&nbsp;significant retail and food and beverage tenancies.&nbsp;Each of the towers will have amenity on both the podium level and the rooftop. Two will have rooftop swimming pools.

Architecture firm Cottee Parker are behind the designs of the precinct, with landscaping by Urbis. Cottee Parker say the project will "reactivate the heart of Woolloongabba, embrace Brisbane’s subtropical climate, and showcase the best of Queensland’s unique climate and lifestyle with iconic architecture."

<img alt="Woolloongabba" data-entity-type="file" data-entity-uuid="74795326-8fe7-4a24-ae37-4346374cb8d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-22%20at%204.20.00%20pm.png?VersionId=uHcAQlOLQL0lq2jte_bNcoaB.h3NdEwf" />

Cottee Parker Director Martin Timms says the Gabba Heart Precinct will do for Woolloongabba what the James Street Precinct did for Fortitude Valley.

“This project will reactivate the heart of Woolloongabba, embracing Brisbane’s subtropical climate and showcase the best of Queensland’s unique climate and lifestyle with iconic architecture,” Timms says.

“The projects vision also includes upgrading Logan Road to a high street that will maximise the existing road width and create a vibrant space for a new retail precinct.

“This is the first of what I’m sure will be many developments to meet the needs of the 2032 Brisbane Olympic Games.”

The application is another which is looking to push past the height limits of the area, which is currently set at 20 levels.

Saunders Havill Group suggested in their Town Planning Report that since the adoption of the Woolloongabba centre neighbourhood, the long-term vision for the locality has changed dramatically with investment into significant transport infrastructure and the redevelopment of the Gabba stadium.

"The current circumstances mean that the provisions of the Woolloongabba centre neighbourhood plan are out of date and have been overtaken by events," their submission noted.

"The provision of key infrastructure outcomes and the intent for the locality to be the centre of the Brisbane 2032 Olympic and Paralympic Games have changed the community’s expectations about the form and scale of development that will occur within the locality. These expectations are no longer linked to the provisions of the neighbourhood plan."

<img alt="Gabba" data-entity-type="file" data-entity-uuid="d2eef504-5ae4-4212-83d9-69f7bc7554c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-18%20at%209.01.33%20am.png?VersionId=Lz5LBlJS8DTGT6qlB48q00CIZLGP4K08" />

They said this proposal seeks to align with the new expectations and builds on the vision of the locality for high quality development outcomes that leverage the government investment in the precinct.

They cited Trenert's Station Square proposal, which will have five new towers rising up to 40 levels.&nbsp;

There's also Trilogy, the 525 apartment development Arden Group on the corner of Vulture and Main Streets. They will top 30 levels, as will Aria's Canopy House development and Sarazin's Silk Three towers.

"The development of the site provides the opportunity to not only deliver a high quality, subtropical development outcome that will enliven the site, but also the opportunity to deliver significant improvements to the entirety of the heart of Woolloongabba", Saunders Havill Group added.

79 Logan Road, on a large 9,361 sqm site, is only 250m from Woolloongabba station which connects directly to Brisbane CBD Casino Precinct.

Architecture firm Cottee Parker are behind the designs of the precinct, which they say will "reactivate the heart of Woolloongabba."



First look exclusive: Belmonde plot over 1,000 build-to-rent units in "Gabba Heart Precinct"

The Electrical Trades Union of Employees Queensland has submitted plans for a 358 build-to-rent apartment tower in the heart of South Brisbane.

The 1838 sqm site at&nbsp;37-41 Peel Street, on the&nbsp;corner of Peel Street and Merivale Street, will home a 30-level building which has been designed by Nettletontribe&nbsp;to suit the rental market, with the unit mix including studio&#39;s and one and two-bedders.

With an intent to increase the pedestrian activation along Peel Street and address the footpath treatment, ground floor activation and podium treatment has been considered to contribute positively to its context through the introduction of high-quality landscape to the streetscape.

The Queensland sub-tropical climate is reflected in the built form and landscape design with planted edges and shady under croft pedestrian paths. A tropical green language is used to assist with podium screening and the planter boxes provide a multi-faceted layering of detail.

<img alt="" height="364" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_11.49.34_am.png" width="918" /> 
Podium elevation of the proposed development on Merivale Street. Image sourced.&nbsp;

The tower extends this concept with planter boxes along the tower edge, and a landscaped rooftop communal and pool area.

A refined palette of natural tones and textures is used throughout with the architectural language expressing &ldquo;elegance through simplicity&rdquo;.

&ldquo;Materials such as concrete, metal, glass and timber are combined with lush greenery to create a timeless design impression,&rdquo; Nettltontribe noted in their design statement.

The proposal provides a distinct lower and upper building form, with the building entry points articulated and well defined for pedestrians, with a resemblance to Queenslander&rsquo;s gatehouse and forecourt. Street awnings and podium structures are designed to provide high degree of shade, cover and visual interest in various depth and scale.

<img alt="" height="1068" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_11.51.42_am.png" width="682" /> 
The proposed development at 37-41 Peel Street, South Brisbane. Image sourced.&nbsp;

A transparent street edge has been created through the use of screening, allowing activation to occur on the periphery of the ground floor common area.

Common areas are located on landscaped street level, level 30 and the roof terrace. Sitting above all residential floors, both indoor and outdoor communal areas take advantage of natural lighting and provide access to sweeping views to the city, South Bank and the river for all its residents.

The City Rooms along peel street provides immediate interface between residents, visitors and the public, with breakout landscaped spaces for users that are sensitive to Brisbane&rsquo;s subtropical climate and appropriate for the Brisbane culture and character.

The apartment tower design celebrates a landscaped, open roof terrace, connected to common areas in the level below, with sweeping 360 degree views to the North and South.

This provides a natural conclusion to the building form, enhancing future opportunities for communal gathering in an organised setting.

The project brings into play Brisbane City Council&rsquo;s vision of engaging the broader community through art and lighting with a number of design ideas. The group have proposed that the site&rsquo;s corner location offers opportunity to utilise the ground plane as a place for activation and engagement, hence the need for a sensitively lit podium to ensure the safety of the general public, while the podium soffit can be utilised as a canvas for light installations with colour-adaptable up lights that engage with Brisbane City sporting events and celebrations.

<img alt="" height="1042" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/peelstreet-elevated-view-to-landscaped-podium_0.png" width="1200" /> 
Elevated view of the&nbsp;landscaped podium at Peel Street. Image sourced.&nbsp;

Sculptural public art is envisaged on the prime corner location which assist in creating a meeting place and way-finding into the building as well as an art display wall at the building&rsquo;s entry, amplifying the ground plane experience and tying into Brisbane&rsquo;s developing art scene within the neighbourhood.

The site is located in the Brisbane suburb of South Brisbane on the corner of Peel Street and Merivale street, approximately 1.3 kilometres south west of the city centre. The site is close by to a number of notable amenities including the South Brisbane Railway Station, the State Library, QPAC, GOMA, South Bank Parklands, the M3 and inner city bypass.

Well within walking distance to both cultural and life style hubs, the pocket location offers separation from unwanted noise and traffic within its pedestrian orientated urban context, while still staying connected to the bustling Brisbane suburb.

Build-to-Rent (BTR) is an emerging asset class in Australia with some forms of BTR already established within the Australian market including Purpose Built Student Accommodation and Aged Care / Retirement Housing currently being the most prolific.

Other build to rent sites include Frasers 210 Brunswick Street, Mirav&rsquo;s, LIV at 60 Skyring Terrace, 2 Cordelia Street, South Brisbane, 28 Robertson Street, Fortitude Valley and 13-17 Cordelia Street, South Brisbane.

Designed by Nettleton Tribe, the development will comprise 77 studio, 154 one-bedroom plus MPR, and 127 two-bedroom units.



alisonwarters@gmail.com

First look: ETU lodge plans for build-to-rent South Brisbane apartment tower

&quot;How are we going to be able to afford property?&quot;

That&#39;s the disgruntled question often&nbsp;muttered when first home buyers start looking at getting on the property ladder.

Runaway property prices have seen young prospective buyers either compromise on a number of factors of a purchase, whether it be location or number of bedrooms, when buying their first apartment. Some will stay living with their parents, and some will turn to renting.

One of Melbourne&#39;s most innovative developers, the&nbsp;affordability-conscious&nbsp;Assemble, has a unique model which has already helped many young Australian&#39;s get in to the property market.

Rather than the traditional build to sell (we develop, you buy) model, which has out-priced many, their Build to Rent to Own offering (known as Assemble Futures) allows prospective buyers to rent apartments, with a free option to buy, after five years.&nbsp;&nbsp;

[smartcode_project:default project_id=28968 project_image_fid=195525]

<h2>What are Build to Rent to Own communities and how do they work?&nbsp;</h2>

Assemble began with Assemble Futures, previously known as the Assemble Model, offering an alternate pathway to home ownership, enabling residents to rent securely for five years, with the option to buy their home at the end of the lease period.

In June 2020, Australia&rsquo;s largest superannuation fund, AustralianSuper invested into the company, with a focus on supporting the expansion of the Assemble Futures model to help address housing affordability and create better access to homeownership.

&quot;Assemble​ Futures supports first home buyers into homeownership by enabling them to move in and experience their home and community for five years, while saving for a deposit to buy it,&quot; Assemble&#39;s​ director of marketing and relationships, Rebecca Shackleton, told Urban.

&quot;It protects them from shifts in the property market as they lock in the future purchase price of their home, and leases are renewed every 12 months, so if life takes them elsewhere, they have the flexibility to leave after the first 12 months.&quot;

[smartcode_project:default project_id=28968 project_image_fid=194522]

The hybrid Build to Rent model offers stable rents, certainty of tenure, financial coaching, and community services, giving residents the option to purchase after a five-year lease period at a pre-agreed price.

This pricing stability&nbsp;creates a pathway&nbsp;to homeownership that supports Australians with a moderate income, as defined by the&nbsp;<a href="https://www.planning.vic.gov.au/policy-and-strategy/affordable-housing/resources">Victorian State Government</a>.

Assemble&#39;s ambition is to challenge Australia&#39;s unfair housing system, with a focus on developing pathways into high quality, sustainable, stable housing.&nbsp;

&ldquo;With a deep respect for people, place, and planet, we deliver housing and create communities that embrace diversity, reflect local culture, and nurture a stronger sense of ownership and belonging,&rdquo; Shackleton said.

[smartcode_project:default project_id=28968 project_image_fid=195527]

Assemble, starts construction on its newest Build to Rent to Own development, 15 Thompson St, Kensington, this month.&nbsp;

MAKE - Assemble&#39;s parent company,&nbsp;spent $30 million on the site, which is the third project by the group in the inner Melbourne suburb.

Construction firm, Hacer Group has been awarded the contract to deliver the Kensington project valued at $190m, designed by Hayball with landscaping by Oculus.

Assemble Managing Director, Kris Daff said support by the Government, planning authorities and AustralianSuper, demonstrates confidence in offering Australian&rsquo;s alternative pathways into home ownership.

[smartcode_project:default project_id=28968 project_image_fid=195526]

&ldquo;Kensington is a highly prized inner-city location, and this approval unlocks access to design-driven, sustainable and community-oriented apartment living for Melbournians,&rdquo; said Daff.

&nbsp;Earlier this year Assemble secured rezoning of two prime industrial sites in Clayton and in East Bentleigh for future residential development.

Daff said it was a strong move that ensures Victorians will have an appropriate supply of social and affordable housing to meet the critical shortfall.

&quot;We are now a step closer to delivering over 1,600 social and affordable housing units, along with much needed health, commercial and retail outcomes, for the broad Glen Eira and Monash communities,&quot; Daff says.

[smartcode_project_cta: project_id=28968]

Assemble’s Build to Rent to Own (BTRTO) housing model is delivered through Assemble Futures.



How Melbourne developer Assemble is changing the game for first home buyers

The innovative Melbourne property developer, Assemble Communities, whose unique pathway to home ownership has already helped thousands get on the property ladder,&nbsp;has secured planning approval for its 199-apartment Build to Rent to Own development, 15 Thompson Street in Kensington.

Australian superannuation fund, AustralianSuper, will invest in the project, providing a pathway to home ownership for moderate-income buyers.

The super company purchased a 25 per cent share in Assemble Communities in June 2020 and has an option to invest in Assemble&rsquo;s future pipeline of projects that encourage home ownership through the developer&rsquo;s innovative Assemble Futures (or Build to Rent to Own) housing model.

[smartcode_project:default project_id=28968 project_image_fid=80125]

Construction firm, Hacer Group has been awarded the contract to deliver the Kensington project valued at $190m, designed by Hayball with landscaping by Oculus.

Assemble Managing Director, Kris Daff said the support by the government, planning authorities and its cornerstone investor demonstrates confidence in offering Australian&rsquo;s diverse affordable housing choices.

&ldquo;Kensington is a highly prized inner-city location, and this approval unlocks access to design-driven, sustainable and community-oriented apartment living for Melbournians,&rdquo; said Daff.

Demolition is now complete at 15 Thompson St, Kensington and construction is scheduled to commence by April this year.

[smartcode_project:default project_id=28968 project_image_fid=80128]

The approval cements Assemble as an impact-focused Australian housing development business which holds a significant $3 billion privately funded social and affordable rental housing portfolio&mdash;the largest of its kind in Australia.

Its existing pipeline with 5,000 dwellings will inject $1 billion of construction activity into Victoria&rsquo;s economy alone and create 8,000 construction jobs.

Hacer Group Director General Manager, Mark Lewis spoke on the significance of the milestone and the impact it has on the future of affordable housing.

[smartcode_project:default project_id=28968 project_image_fid=80126]

&ldquo;We are eager to break ground on this project and bring the Assemble vision to life by giving more people the chance to live sustainably&rdquo; he said.

Assemble has several Build to Rent to Own projects underway with 393 Macaulay Road, Kensington scheduled for completion by May this year&nbsp;and 4 Ballarat Street, Brunswick to commence construction as soon as a planning permit is secured.

The developer also acquired the site at 402 Macaulay Road, Kensington in early 2021 which will be transformed into a 370-apartment Build to Rent community.

[smartcode_project_cta: project_id=28968]

Australian superannuation fund, AustralianSuper, will invest in the project, providing a pathway to home ownership for moderate-income buyers.



Assemble Communities secures approval of Kensington apartment project

Global investment manager Hines has paid $16.5 million for its first site in Brunswick.

Set six&nbsp;kilometres from the centre of Melbourne, Mirvac and Milieu Property are currently developing a nearby BTR project on Albert Street with more than 500 rental apartments.

Hines plans to develop a 250-unit BTR apartment complex at the 4247-square metre site at 10 Ballarat Street.

It will have an end value of $250 million.

[smartcode_project:default project_id=94542 project_image_fid=160729]

Sam Bisla, who heads Hines new BTR and co-living business in Australia, said the asset class would deliver &quot;defensive, stable cash flow&quot; for investors.

The warehouse site, leased to Bell Plaster Supplies, sold through Colliers with a permit for an eight-level building of 163 apartments designed by Bruce Henderson Architects.

It is expected planning authorities will grant extra capacity for BTR.

Build to Rent refers to a residential development in which all apartments are owned by the developer and leased out to tenants, as opposed to the build-to-sell model.

The site last sold for $12 million in 2017.

[smartcode_project:default project_id=94542 project_image_fid=160734]

Mirvac and joint venture partner Milieu have a late 2024 scheduled completion date for its a one-hectare site in Brunswick.

Mirvac has estimated the project would cost $172 million to build.&nbsp;

Assemble Futures are currently marketing their take on build-to-rent (Rent-Save-Buy) just a few doors down from the recent sale.

Their 4 Ballarat Street project,&nbsp;with design by&nbsp;Fieldwork Architects&nbsp;and landscape design by Rush Wright, places an emphasis on providing a seamless transition to the natural environment, with each apartment running on 100% renewable energy.

The&nbsp;spacious outdoor areas and floor-to-ceiling glazing provide&nbsp;plenty of light to fill each living space and cross-flow ventilation.&nbsp;

[smartcode_project:default project_id=94542 project_image_fid=160741]

Global investment manager Hines has paid $16.5 million for the 4247-square metre site at 10 Ballarat Street

jchancellor-FAypfDUnLy

Hines joins Brunswick build-to-rent push

Oxford Properties Group (&lsquo;Oxford&rsquo;) and Investa today announced they have received development approval from the Independent Planning Commission (IPC) for the first build to rent building in the Sydney CBD, a new residential development above the South entrance of the Sydney Metro Pitt Street Station.

The development will deliver an innovative, sustainable, purpose-built build to rent residential building that will create an unmatched rental experience for residents in the Sydney CBD. The approval is a major milestone for the project and is the first step in Oxford&rsquo;s strategy to create a leading build to rent platform in Australia and to attract co-investment from like-minded and strategic investors. The platform is being created in partnership with Investa, which is Oxford&rsquo;s local operating and development partner for its office portfolio and growing build to rent business.

<img alt="" height="530" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/pitt_st_station.jpg" width="920" />

The 39-storey building will feature 234 residential apartments with extensive on-site amenities, including a wellness floor, rooftop terrace and adjoining communal space, an entire floor dedicated to work from home spaces, a social lounge and up to 682 square metres of retail. The building is targeting a 5 Star Green Star rating, with 30% Basix energy targets and 40% water targets.

Nellie O&rsquo;Keeffe, Project Director at Oxford Properties said, &ldquo;this is an exciting milestone for a truly transformational project. We are working with a world-class project team, which includes leading Australian architects Bates Smart and are committed to delivering a project that sets the bar for purpose-built rental in Sydney.

[smartcode_project:default project_id=7758 project_image_fid=79424]

Located on the corner of Pitt and Bathurst streets, the development is ideally positioned to provide a lively city lifestyle to future residents, ranging from young families, to working professionals to downsizers. Seamlessly integrated with the new Pitt Street metro station and well connected to other primary transport hubs, residents will benefit from connectivity to Greater Sydney and close proximity to Hyde Park and some of Sydney&rsquo;s best retail, dining and entertainment attractions, while enjoying the convenience, amenity, flexibility and sense of community this location offers.

Oxford&rsquo;s build to rent pipeline in Australia now includes approximately 1,000 units, following the acquisition of its first build to rent site in Melbourne at 3 McNab Avenue, Footscray, and is targeting more than 5,000 units over the next 10 years.

Oxford&rsquo;s consortium partners, CPB Contractors commenced construction on the metro station in December 2020. The residential development is scheduled to begin in late 2021 and due to be completed in line with metro services in 2024. Oxford anticipates that around 350 jobs will be created through the construction over a 24-month period.

Oxford Properties Group (‘Oxford’) and Investa today announced they have received development approval from the Independent Planning Commission (IPC) for the first build to rent building in the Sydney CBD

jordan_55689

Development approval locked in for Sydney CBD's first build to rent development

<html><body>
EXPERT INSIGHT

Australia’s emerging build-to-rent sector is growing — “<a href="https://theurbandeveloper.com/articles/build-to-rent-boom">booming</a>” by some accounts with a <a href="https://www.cbre.com.au/about/media-center/australian-btr-pipeline-grows-by-70-in-one-year">70% jump in value in the past year</a>. Under this model, institutional investors develop purpose-built rental apartments to retain and operate under single ownership. In Australia, it will change how apartments are designed and developed, how we are housed and how our tenancies are managed.

With 40 projects under way, an <a href="https://www.cbre.com.au/about/media-center/australian-btr-pipeline-grows-by-70-in-one-year">estimated</a> 15,000 units worth more than A$10 billion are in the pipeline. Site availability has made Melbourne popular, with over 50% of the national market. Investors are active in Sydney, Perth and Queensland too.

Sought-after neighbourhoods are earmarked for large developments. Many have 300 or more units, most at market-rate rents.

Build-to-rent is new to our shores, but hardly uncharted territory abroad. In the UK, the sector expanded exponentially from 2013 with government support. It now accounts for <a href="https://assets.publishing.service.gov.uk/government/uploads/system/%20uploads/attachment_data/file/817037/FT1101_Trends_in_tenure.xlsx">one in five new homes built in England</a> and <a href="https://data.london.gov.uk/dataset/housing-london">one in four in London</a>.

In the US, the built-to-rent sector is relatively mature. It makes up almost two-thirds of the rental stock in many of the largest cities. Heavyweight corporate landlords operate <a href="https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2020-top-managers-list/">as many as 400,000 units each</a>.

In Australia, we need more data and more informed public debate to guide tax, design, planning and tenancy reforms to secure the best possible urban and social outcomes from the build-to-rent expansion.

The build-to-rent promise

Build-to-rent presents an enticing vision. For households, it promises several things:

<ul>
<li>
	flexible long-term tenancies
	</li>
	<li>
	client-centric onsite management
	</li>
	<li>
	hotel-style amenities and services
	</li>
	<li>
	allowances for <a href="https://theconversation.com/can-i-have-a-pet-and-be-housed-too-it-all-depends-155202">pets</a> and personalisation, such as painting and decorating.
	</li>
</ul>
<figure class="align-center "> </figure>For cities, the model promises high-amenity, well-located, purpose-built rental apartments that cater to diverse and changing housing needs.

Proponents hail build-to-rent as a win-win. It’s seen as a salve for various housing woes, including concerns about housing <a href="https://www.ahuri.edu.au/__data/assets/pdf_file/0012/13242/AHURI-Final-Report-281-Housing-supply-responsiveness-in-Australia-distribution-drivers-and-institutional-settings.pdf">supply</a>, <a href="https://www.domain.com.au/news/housing-affordability-already-declining-across-the-nation-on-the-cusp-of-being-obliterated-1031061/">affordability</a>, the <a href="https://www.rentingcommissioner.vic.gov.au/the-rental-sector/key-issues">private rental sector</a> (including insecure tenancies and inexpert property and tenancy management) and <a href="https://theconversation.com/dealing-with-apartment-defects-a-how-to-guide-for-strata-owners-and-buyers-150292;%20https://theconversation.com/life-in-a-windowless-box-the-vertical-slums-of-melbourne-41181">apartment quality</a>.

Since the COVID-19 downturn, the model has been <a href="https://www.budget.vic.gov.au/place-call-home-victorias-big-housing-build">hailed</a> as an economic lifeline too: good for the construction sector, good for jobs.

Rise of a new asset class

For build-to-rent investors, the rental revenue returns appear relatively modest. Under current market conditions, however, secure margins and “lower (but) for longer” investment prospects appeal.

Advocates continue to push for <a href="https://urbis.com.au/insights-news/build-to-rent-stimulating-recovery-ensuring-resilience/;%20https://www.allens.com.au/globalassets/pdfs/campaigns/accelerating-build-to-rent-march19.pdf">tax reforms</a>. They point to a growing “<a href="https://info.propertycouncil.com.au/property-australia-blog/build-to-rent-growth-spurt-ahead">weight of capital</a>” awaiting more enticing returns. But many international <a href="https://theurbandeveloper.com/articles/oxford-gurner-move-on-melbourne-build-to-rent">build-to-rent behemoths</a>, superannuation/pension funds, private equity firms and real estate investment trusts are entering our private rental sector regardless.

Institutional investors’ entry into our rental sector contributes to a broader paradigm shift in urban housing systems dubbed the <a href="https://www.onlinelibrary.wiley.com/doi/abs/10.1111/1468-2427.12522">financialisation</a> of (rental) housing.

States have endorsed build-to-rent, improving its viability with <a href="https://theconversation.com/why-nsw-is-skewing-its-tax-system-toward-build-to-rent-apartments-and-away-from-mum-and-pop-landlords-143594">land tax concessions</a>, exemption from foreign investor surcharges, privileged planning pathways and pilot projects (e.g. <a href="https://www.treasury.qld.gov.au/programs-and-policies/build-to-rent-pilot-project/">in Queensland</a>). The federal government’s position has been more ambiguous.

Crucially, the rise of build-to-rent sets in motion two important structural shifts

<ol>
<li>
	institutionalising the private rental sector
	</li>
	<li>
	diversifying residential development models.
	</li>
</ol>
Historically, <a href="https://grattan.edu.au/wp-content/uploads/2018/03/901-Housing-affordability.pdf">small-portfolio “mum and dad” landlords</a> have owned and managed our rental stock. They are motivated by many of the same benefits (such as tax concessions and capital gains) and exposed to the same risks as owner-occupiers.

So we’ve had a high degree of integration between the private rental and owner-occupier sectors: few dwellings were purpose-built for renting and most homes were readily interchangeable between sectors.

Build to rent disrupts this integration. It replaces the fragmented ownership of apartment buildings under strata title laws with a single institutional owner.

Build to rent also diverges from familiar speculative build-to-sell development geared towards short-term profits. Its longer-term investment horizons give developers a new incentive to minimise a building’s running costs and to create apartments that appeal to and retain tenants.

So will it deliver?

Will build to rent provide high-quality, high-amenity, professionally managed rental homes? And at what scale, for how long, and at what costs to whom?

In the longer term, will this model disrupt the socio-political <a href="https://theconversation.com/three-reasons-the-government-promotes-home-ownership-for-older-australians-80200">twinning of home ownership and home</a>?

<hr>
Read more: <a href="https://theconversation.com/ideas-of-home-and-ownership-in-australia-might-explain-the-neglect-of-renters-rights-104849">Ideas of home and ownership in Australia might explain the neglect of renters’ rights</a> 

<hr>
Could build to rent be a catalyst for more progressive tenancy reforms, leading towards tenure neutrality/equality where ownership isn’t seen as automatically superior to renting?

These questions matter. <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">One in three</a> Australian households now rent their housing. Some <a href="https://theconversation.com/retiree-home-ownership-is-about-to-plummet-soon-little-more-than-half-will-own-where-they-live-115255">argue</a> we’re headed for a “post-ownership” society in which most people rent their homes.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="chart showing changes in proportions of households by tenure type" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=384&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=384&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=384&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=483&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=483&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/388738/original/file-20210310-21-71surk.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=483&amp;fit=crop&amp;dpr=3 2262w"></a>
</figure>Private rental was once a route to ownership. Now it’s a destination. Ownership has been delayed, become unattainable or been <a href="https://theconversation.com/i-wouldnt-want-to-buy-even-if-i-had-the-money-the-rise-of-renters-by-choice-130696">“traded off” for flexibility</a> and being able to live in desirable locations.

Tenants are also <a href="https://www.tandfonline.com/doi/abs/10.1080/14036096.2018.1467964">more diverse</a>. There are more lower-income and higher-income earners and more families than ever before.

Renters endure short leases on often <a href="https://theconversation.com/chilly-house-mouldy-rooms-heres-how-to-improve-low-income-renters-access-to-decent-housing-116749">poorly maintained</a> properties owned by a cottage industry of “mum and dad” landlords. Social housing options are few and far between in a sector that has been marginalised and <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/108">residualised</a>. More renters, <a href="https://theconversation.com/australia-had-rent-control-in-wartime-war-on-coronavirus-demands-the-same-response-135694">uncapped rents</a>, <a href="https://theconversation.com/an-open-letter-on-rental-housing-reform-103825">weak tenant protections</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2021-02-24/wage-price-index-abs/13187102">stagnating wages</a> make for a toxic mix of <a href="https://theconversation.com/australia-had-rent-control-in-wartime-war-on-coronavirus-demands-the-same-response-135694">housing stress</a> and financial risk.

<hr>
Read more: <a href="https://theconversation.com/build-to-rent-could-be-the-missing-piece-of-the-affordable-housing-puzzle-82320">'Build to rent' could be the missing piece of the affordable housing puzzle</a> 

<hr>
Reasons to proceed with caution

We don’t have robust evidence to answer these questions, but limited evidence suggests caution is well advised.

In Australia, build-to-rent properties look set to attract rents of about <a href="https://www.afr.com/property/residential/rental-only-apartments-test-tenants-appetite-in-a-weak-market-20200804-p55iij">10-15% more</a> than comparable non-BTR housing, just <a href="https://www.colliers.com/en-gb/news/09-07-18-firm-evidence-that-build-to-rent-schemes-command-higher-rents">as they have in London</a>. Without government subsidies, market-rate BTR <a href="https://cityfutures.be.unsw.edu.au/documents/558/LCOM_0000_Build_to_Rent_Report_WEB.pdf">will not provide more affordable housing</a>.

Overseas, these rental premiums, alongside planning leniency (which reduced the affordable housing required of these developments), have been blamed for <a href="https://www.ft.com/2020living">poor outcomes</a>, such as residents being priced out of neighbourhoods they could once afford.

In Ireland, permissive planning concessions enable build-to-rent developers to circumvent design standards. This has <a href="https://www.gov.ie/en/publication/15f0b-design-standards-for-new-apartments-dsfna-2018/">raised concerns</a> that build-to-rent may deliver smaller, less diverse and lower-amenity housing (less storage, for example) than standard build-to-sell development.

In New South Wales, BTR developments <a href="https://www.treasury.nsw.gov.au/sites/default/files/2021-02/Treasurer%E2%80%99s%20Guidelines%20for%20the%20Reduction%20in%20Land%20Value%20for%20Certain%20Build-to-rent%20Properties%2C%20for%20Land%20Tax%20Purposes.pdf">cannot be subdivided for 15 years</a> (without clawback of land tax concessions). This ensures buildings remain in use as rental stock for that period. But what will happen after that?

<a href="https://theconversation.com/profiles/megan-nethercote-156060">Megan Nethercote</a>, ARC DECRA Fellow at the Centre for Urban Research, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/build-to-rent-surge-will-change-apartment-living-for-australians-but-for-better-or-worse-154839">original article</a>.
</body></html>

In Australia, we need more data and more informed public debate to guide tax, design, planning and tenancy reforms to secure the best possible outcome for build-to-rent

Build-to-rent surge will change apartment living for Australians but for better or worse?

Australia&#39;s build to rent pipeline has grown by nearly 70 per cent over 2020, new research by CBRE has found.

Their Build-to-Rent development pipeline report showed a 68 per cent expansion, topping&nbsp;40 projects. The total number of units was approaching 15,000 &ndash; a new high for the asset class.

There was a&nbsp;28 per cent increase in new projects in the second half of last year relative to the first six months of 2020, the&nbsp;half-yearly profile of supply and development projects highlighted.

&quot;As the pipeline continues to expand, the aggregate size of the market is currently estimated to exceed $10 billion with an additional $3-5 billion in the pipeline currently under consideration or at various stages of due diligence&quot;, the reported noted.

The second half of the year saw the completion of&nbsp;Mirvac&rsquo;s&nbsp;Pavilions at Olympic Park&nbsp;in Sydney and Lateral Estate&rsquo;s first stage in Green Square.

[smartcode_project:default project_id=7363]

Queensland also increased its share of the pipeline with new large scale schemes announced by Frasers and Mirvac following Gold Coast&rsquo;s lead which already has a number of BTR projects.

Melbourne remains the top investment destination geographically, due&nbsp;to its more accessible and affordable market for site acquisitions.&nbsp;Investors continue to pursue Sydney opportunities as Australia&rsquo;s premier gateway city.

&quot;We expect the momentum to be maintained with more projects announced as developers work through a pipeline of several thousand units currently under due diligence and taking advantage of recent tax reforms enacted in NSW and Victoria.

&quot;The effects of COVID-19, while having had a significant impact across the economy, appear not to have derailed many groups&rsquo; plans.

&quot;On the contrary, it may have stimulated further interest for BTR both from developers as well as investors, some of which are recording relative outperformance of BTR assets in their global portfolios.&quot;

[smartcode_project_cta: project_id=7363]

Melbourne remains the top investment destination geographically, due to its more accessible and affordable market for site acquisitions



Mirvac and Frasers drive soaring 2020 Build-to-Rent pipeline

<html><body>
MAKE, the parent company to the property development firm Assemble, has spent $30 million on its third site in Kensington, which they will develop in to a build to rent community with over 400 apartments dedicated to affordable housing.

Some 20 per cent of the building will be committed to social housing delivered in partnership with a community housing provider.

Kerstin Thompson Architects and Hayball are currently preparing designs to lodge to the local council.

The project will span four buildings, with Assemble committing one of the buildings to Cross Laminated Timber construction, as it continues to focus on reduction in embodied carbon across its projects.

The purchase of 402 Macaulay Road means Assemble are now developing 650 dwellings in the Kensington area, collectively valued in excess of $500 million.

They own the neighbouring 393 Macauley Road (below), and 15 Thompson Street, which are both currently either in their demolition phase or under construction.

<img alt="" height="1091" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/assemble_kensington.jpg" width="1200">

These two buildings are being delivered under Assemble's ‘rent-with-the-option-to-buy’ model. 

Assemble managing director Kris Daff said that MAKE will continue to privately acquire well located development properties which can then be made available to its institutional investment partners under its housing mandates, once those acquisitions are appropriately out of risk.

“We have been executing our strategy over the past five years of a growth-centric approach," Daff said.

"As a result of such a large, committed pipeline of projects, we continue to attract the attention of key institutional players and construction partners that value our commitment to build to rent, particularly focused on households with essential worker incomes and below.”
</body></html>

The purchase of 402 Macaulay Road means Assemble are now developing 650 dwellings in the Kensington area, collectively valued in excess of $500 million.



Melbourne's Kensington set for new build-to-rent community from Assemble

<html><body>
The Melbourne developer GURNER and fund manager Qualitas have announced a partnership to enter the multi-family housing sector.
They will soon launch of capital raising for a dedicated build-to-rent fund with three seed projects in the works with total value of over $1 billion and 1,200 plus apartments.
GURNER and Qualitas aim to become the largest multi-family housing players over the next one to two years.
In September Gurner announced a strategic agreement with the private real estate financier for an equity allocation of up to $150 million on residential apartment projects.
Gurner's decision to partner with Qualities comes six months after Tim Gurner labelled the emerging sector a "stupid model" and warned that institutional investors like Blackstone and Greystar would wipe out mum-and-dad investors.
However he has since qualified the comments that came in a spat with Melbourne Lord Mayor Sally Capp who'd suggested that BTR was a great way of delivering affordable housing.
Gurner maintains the asset class was about delivering a premium product and compelling returns to investors.
He told The Australian Financial Review a significant reduction in apartment supply, falling interest rates, and land tax breaks and incentives introduced in NSW and Victoria this year specifically would make returns "very attractive".
</body></html>

Build to Rent

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Build to Rent

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News