Who is designing and building the development?
Innovate Real Estate Advisory is leading this development project, supported by a team of professional consultants.
The team behind Innovate Real Estate Advisory has a proven track record of developing quality projects throughout Australia and internationally.
The project architect is Antoniades Architects. Antoniades Architects have designed a number of buildings throughout Canberra, and have previously designed build to rent developments in Sydney and Melbourne.
What is being proposed?
The proposal is for short term accommodation, providing a variety of living options for students, young professionals, graduates and other users requiring a convenient, wholistic accommodation offering.
The development is to comprise circa 350 apartments and is designed to encourage residents to be part of a supported community. There are a range of different accommodation options on offer within the development, ranging from share apartments through to individual apartments.
The development includes communal facilities for use by residents including private dining areas, café/retail spaces, cinema and gaming areas, gymnasiums, library, co-working meeting and lounge spaces and communal outdoor areas including podium and rooftop terrace with garden space.
Innovate Real Estate Advisory also intend to investigate opportunities to improve the public realm within Mulwala Lane adjoining the site, however the laneway is a public road and any works would be subject to ACT government support.
What is built-to-rent accommodation?
Build-to-rent is an innovative new form of housing offering within the Australian market and the proposed development is the first of its kind in the ACT.
The development provides short term accommodation for occupants, ranging from a period of a few nights to up to a year.
Build-to-rent differs from rental housing as residents enter into an occupancy agreement with the accommodation provider rather than a residential lease with a landlord or property agent.
This type of accommodation provide flexibility for persons staying in Canberra for short periods of time who are seeking “walk in, walk out” housing options. Build-to-rent allows residents to avoid the difficulties often experienced in renting a property through traditional channels and incurring housing setup costs such as purchasing furniture and utility costs that are associated with traditional rental properties.
Where is the proposed development?
The project is being proposed on the corner of Moore and Rudd Street in the City Centre.
The site of the proposed build-to-rent accommodation is currently a four storey office building with one level of basement parking. It is located in the west of the City centre, near the Australian National University and is also a short walk away from the Canberra Centre shopping precinct.
The block includes Mulwala Lane to the rear, which is a public road that provides vehicle access for waste collection and to parking in the basement surrounding buildings. The laneway includes designated parking spaces.
How high will the building be?
The proposed building is to be up to sixteen storeys tall, up to the maximum permissible building height in the City Centre of RL617m.
When will the project be built?
It is anticipated that a Development Application will be lodged in October 2018, with construction to commence (subject to approval) in mid-2019. It is anticipated that construction will take approximately 18 months.
When will community consultation take place for this project?
Community consultation has already commenced and will take place over September and early October 2018.
The proposed development will also be open to standard public review and feedback processes after being submitted for Development Assessment.
What impact will the proposed development have on surrounding areas?
The project is anticipated to generate some additional traffic during construction in line with other similar developments. This will be undertaken in a way to minimise impacts on existing development within the area.
Once complete, the project will generate additional cyclist and pedestrian traffic in the area. The project will generate very minimal vehicle traffic as few car parking spaces are proposed for the development. The extent of the traffic impact will be demonstrated as part of traffic report to be prepared as part of the project’s Development Application, and will be available for public viewing and comment and feedback as part of the Development Assessment process.
Due to the height of the proposed building, some overshadowing occurs to nearby 53 Alinga Street and 1 Moore Street developments during parts of the day. Shadow diagrams have been prepared to show these impacts and these are available for public viewing and feedback as part of both the Pre-Development Application Consultation process and during Development Assessment.
Why build here?
The proposed development will provide students and young professionals quality accommodation, connection to a community and a central living location. With direct access to key pedestrian and cycleway networks combined with close proximity to the Interstate and City Bus and Light Rail Station, residents will be able to conveniently access a range of transport options and enjoy facilities available within the City Centre.
How will the project be built?
Subject to securing the necessary development approvals, commencement of construction for the building is expected to occur from mid 2019. In due course the developer will look to secure a construction contractor via tender or negotiation.
Once complete, it is intended that the building will be held and operated under a single ownership- similar to a hotel development. The building will be managed and maintained by the accommodation operator on a day to day basis.