AsheMorgan has revealed plans for a 900-residence build-to-rent (BTR) development in Docklands, District Living, that serves as one of the country’s biggest ever BTR projects.
Located in the heart of Melbourne, the $700 million project comprises two buildings with a number of studios, one, two, and three-bedroom apartments. Over 4,000 sqm of amenity has also been earmarked for development, which includes a wellness centre, plunge pool, sauna and steam room and sky terrace.
Residents will be able to access 2,500 sqm of private outdoor space, while a further 1,500 sqm will be landscaped public outdoor space. The entire precinct sits adjacent to The District Docklands, a mixed-use project additionally developed by AsheMorgan, as well as North Melbourne Station.
AsheMorgan Development Director Mat Stoddart believes the project will assist in catering to demand within the garden city for high-end, accessible apartments.
“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,” he says.
“Coupled with a tight rental market and over 67 percent of the population in Docklands already renting, it is an area ripe for a well-designed BTR development.
“Over 50 percent of residents within Docklands are aged between 20 and 40 and almost 60 percent are working as professionals or managers, making them the primary target market for BTR.
“Armed with this knowledge, we have delved into understanding more deeply how people want to live, which has led us to be much more generous and considerate in our design approach for these apartments, with a portion specifically designed with families in mind.”
Stoddart likens the interiors to the BTR staples seen in New York.
“This includes both two and three-bedroom apartments that have baths, walk-in wardrobes as well as a unique offering in the form of Soho-style apartments across two levels. The project will also be all-electric and target a 7.5 NAThers rating, passing further cost-savings onto renters.
“This project is ideally located and unlocks a plethora of amenities for residents; everything they need, from everyday essentials to education, is right on their doorstep.”
The state-significant project is currently before the Victorian Minister for Planning, with construction due to commence in Q3 2024.
