AsheMorgan has entered a landmark partnership with Japan’s Marubeni Corporation, alongside Haseko Corporation and Mizuho Leasing, to deliver one of Australia’s largest build-to-rent (BTR) precincts — the $600 million District Living project in Melbourne’s Docklands.
Stage One of District Living will feature 626 apartments, with construction scheduled to commence next month following the appointment of Kapitol as builder.
Marubeni, one of Japan’s largest trading and investment companies, brings extensive global experience in long-term developments, often co-developing major infrastructure and urban projects.
The Docklands precinct marks Marubeni’s first entry into the Australian BTR market and expands its growing portfolio of rental housing projects worldwide.
Mendy Moss, Principal at AsheMorgan, said the collaboration represents a milestone for both the project and the broader BTR sector.
“Partnering with Marubeni, Haseko, and Mizuho Leasing on District Living is an exciting step for AsheMorgan and is reflective of the group’s confidence in the project,” said Moss.
“Together, we are committed to creating a thriving rental community that sets a new benchmark for quality and amenity in Melbourne.”
For Marubeni, the investment signifies a strong vote of confidence in Australia’s emerging BTR landscape.
“We see enormous potential in build-to-rent as a housing solution in Australia, and are looking forward to working with an outstanding partner in AsheMorgan to bring this project to life,” said Noritake Miyaguchi, General Manager, Marubeni, Overseas Real Estate Dept.
Once complete, District Living will deliver more than 900 apartments across two buildings with a diverse mix of studios and one-, two-, and three-bedroom residences, designed to cater to families and professionals alike.
The precinct will also feature a range of Soho-style dual-level apartments to offer additional flexibility and space.
Stage One will include over 2,200 square metres of resident amenity, incorporating a wellness centre with a gym, plunge pool, sauna, steam room and a sky terrace.
More than 1,400 square metres of private outdoor space will provide landscaped green areas, dog-friendly zones and communal gardens.
The ground floor will feature retail offerings, while 1,700 square metres of public open space will contribute to Docklands’ lively urban environment.
Reflecting shifting community expectations for sustainable living, District Living will be fully electric and target a 7.5-star NatHERS energy rating.
The emphasis on sustainability complements the broader vision for the Docklands precinct as a vibrant and future-ready residential community.
Kapitol Co-founder and Director Andrew Deveson said the project aligns with the builder’s dedication to quality and innovation.
“Australia’s rising demand for rental housing highlights the importance of building with quality and longevity in mind,” said Deveson.
“District Living will deliver much-needed apartment stock to the market and serve the city for decades to come.”
Deveson said the company is leveraging the same suite of digital innovations applied across its major developments, including advanced design coordination, 4D sequencing and prefabrication, to enhance project delivery.
He added that these approaches boost precision and efficiency, ultimately resulting in higher-quality housing outcomes for residents.
Situated alongside AsheMorgan’s established District Docklands precinct, District Living will integrate with existing retail, entertainment and lifestyle amenities.
Future plans include a pedestrian link to North Melbourne Station, further strengthening the precinct’s connectivity and appeal as one of Melbourne’s most significant new urban communities.
