Build-to-rent tower offers billion-dollar life of luxury
LOS ANGELES: A record-breaking new skyscraper is flipping the great dream on its head, offering renters rooftop bars, private cinemas, co-working suites, pet spas and even a bowling alley.
But while the 45-storey West Tower will deliver a lifestyle most buyers can only dream of, it’s part of a growing shift in Melbourne’s housing market, one that could see more people choosing not to own at all.
Set to welcome its first residents in early 2026, the $1bn build-to-rent development is now the largest single build-to-rent tower in the country, with 797 apartments exclusively for lease, not sale.
Located at 899 Collins St, Docklands, the Lendlease and Daiwa House project will feature a concierge, 25-metre lap pool, cinema, rooftop gardens and sweeping bay and city views, all within walking distance of the CBD.
Daiwa House Australia chief executive Koji Morishige said the project aimed to raise the bar for rental housing.
“Everyone deserves a place they can call home, with everything a home can and should offer,” Mr Morishige said.
Lendlease Development chief executive Tom Mackellar said long-term BTR developments like West Tower were not just lifestyle-driven, they were also about meeting demand.
“Long-term rentals provide much-needed housing supply and diversity,” Mr Mackellar said.
“They give people more choice at different stages of life.”