Salta has received a planning permit to progress its next build-to-rent (BTR) project at 699 La Trobe Street, Melbourne.
The 37-storey project, under Salta’s ‘Est’ brand, will deliver 554 design-led apartments to a city currently grappling with a tight rental market. Situated at the prominent corner of La Trobe Street and Harbour Esplanade, the development will expand the group’s BTR pipeline and serves as a gateway between the CBD and the waterfront.
Designed by architecture firm FK, the tower features two interlocking volumes intended to break down the building’s scale along the esplanade.
The plans include a landscaped forecourt and an activated ground plane, designed to breathe new life into the public realm near the Marvel Stadium precinct.
The development isn’t just about luxury living. It also includes 26 affordable housing apartments alongside extensive resident amenities, co-working spaces, and communal hubs.
Salta’s Director of Residential Development and BTR Operations, Edward McAuliffe, noted that Melbourne remains one of the most compelling BTR markets globally.
“Our Docklands project demonstrates how well-located sites with excellent transport connectivity and lifestyle amenity can support high-quality, professionally managed rental communities and respond to the evolving needs of modern renters living in them,” McAuliffe said.
The approval comes as the Franklin Street 2026 BTR Market Report highlights the fast acceleration in the sector. The national pipeline has doubled recently, with more than 16,000 BTR apartments now operational across Australia. This growth is being fuelled by rental increases outpacing construction costs, with institutional investors showing renewed confidence as cap rates stabilise.
This Docklands site will be the third project in Salta’s Est portfolio, following the 2024 completion of Fitzroy & Co and the ongoing construction of 25 River Boulevard in Richmond.
Once finished, Salta’s BTR portfolio will exceed 1,100 apartments, providing a significant boost to the inner-city housing supply.
