Build-to-rent sector gaining support from boomers
LOS ANGELES: The build-to-rent sector is gaining significant support from downsizers and baby boomers.
A sleek tower with a striking similarity to New York’s celebrated Flatiron building has been proposed for Melbourne.
Development giant Lendlease has pitched a $187m “build to rent” precinct at Victoria Harbour in Docklands that would feature 499 homes across 24 storeys.
A draft planning permit application has been lodged with the state government for the 82m-plus tower at 907-913 Collins St.
The site, known as ‘Y7’ in the Victoria Harbour Development Plan, is owned by Development Victoria.
The building would have a lap pool and lounge, outdoor gym, yoga and barbecue space as well as a business lounge, music and podcast rooms and meeting areas. It would also have a residents’ lounge, three levels of carparking and studio, one, two and three-bedroom apartments.
Deputy Lord Mayor Nicholas Reece said town planners and councillors would consider the application carefully.
“With water views on all sides, Victoria Harbour has so much potential and we’re working to make it a premier location to live, work and visit,” he said.
Cox Architecture has provided the blueprint for the plans, with a preliminary assessment to be assessed by government departments.
The development site is opposite the Yarra River, hugging Collins St and Tom Thumb Lane. A new wharf is expected to be built near the site in the future.