Real estate investment and advisory group AsheMorgan has announced plans for one of the nation’s biggest Built-to-Rent (BTR) developments in Docklands, Melbourne.
Titled District Living, this $700 million plus project will comprise of over 900 BTR across two buildings and will offer a mix of studios — including one, two and three-bedroom apartments.
These all-electric Soho-style apartments will feature baths, walk-in wardrobes and strive to achieve a 7.5 stars NatHERS rating.
AsheMorgan Development Director Mat Stoddart stated that the development, located at 24 Little Docklands Drive, will help to cater to the growing demand for quality cost-saving apartments within the suburb.
The BTR project aims to cater to young families within the Docklands Primary catchment.
“Melbourne is facing a significant undersupply of housing over the coming four years; research suggests that there will be an undersupply of around 10,000 residences in 2026 alone. Couple this with a tight rental market and over 67 per cent of the population in Docklands already renting, it is an area ripe for a well-designed BTR development.
“Over 50 per cent of residents within Docklands are aged between 20 and 40 and almost 60 per cent are working as professionals or managers, making them the primary target market for BTR,” said Stoddart.
Residents will receive access to 4,000 square metres of amenities, including a contemporary wellness centre equipped with:
- fitness studio
- plunge pool
- steam room
- sky terrace — featuring kitchen, dining and relaxation areas
AsheMorgan has also announced plans to build a footbridge across Footscray Road that will connect District Living to the North Melbourne train station that is located 500 metres away.
District Living is now awaiting approval from Minister for Planning John Carey, with construction predicted to start in the second half of 2024.