New Build-to-Rent projects shortlisted by Government
The Property Council welcomes the Queensland Government’s announcement that is has short-listed proponents for two new Build-to-Rent developments in Brisbane.
The two new Build-to-Rent pilot projects were released in January 2021 with the State Government requesting Expressions of Interest (EOIs) for two sites: a state-owned site at 50 Quay Street and another for a privately owned site identified by the successful proponent.
The shortlisted proponents for each site are:
50 Quay Street: Mirvac and Pacific Living
Privately owned site: Lendlease, Greystar, Australian Unity and Make Ventures
While the details of the two new Build-to-Rent projects are yet to be finalised with the successful proponents, the State Government is expected to subsidise the affordable housing component of each project.
The two new projects will join Mirvac’s LIV Anura Build-to-Rent Development at 60 Skyring Terrace, Newstead, and Frasers Property’s development at Fortitude Valley.
Work has already begun on the Mirvac site while planning is underway at the site owned by Frasers Property.
Together the two sites are expected to offer 750 apartments in total with 240 affordable units.
The Property Council has long advocated for the progression of the Build-to-Rent sector in Queensland to assist housing affordability and leverage momentum in the burgeoning asset class. This has included advocating for land tax discounts and an expansion of the Government’s pilot program.
To read more about the Government’s announcement, please click here.