CONSTRUCTION is now underway on CDL Australia’s first build-to-rent project in Australia, which is set to bring more than 237 new units to Melbourne’s Southbank.
The ground-breaking ceremony at the Normanby Road development site marks the commencement of works by Crema Construction on the Hayball-designed BTR project.
“It is very exciting to see our vision for this wholly-owned BTR project in Melbourne start to take shape,” said Cameron Laird, head of development at CDL Australia.
“Following the construction sign-off, demolition was completed in September, making way for the commencement of piling and our official ground-breaking ceremony this month.”
The project will include a range of apartment sizes, including studios, one- and two-bedroom apartments.
As well as resident amenities including a mix of health and wellness facilities, podcast rooms, cinema room, outdoor BBQ terrace and collaborative working spaces.
“Normanby has been designed with a modern lifestyle in mind, and in a thriving location that is only two kilometres from Melbourne’s CBD,” added Laird.
“As more and more young professionals switch to remote working arrangements, we have also included co-working areas so residents can work from home in a dedicated space, or students can easily collaborate together.”
The Southbank project is the first of two BTR projects in the pipeline for the subsidiary of global real estate conglomerate City Developments Limited.
The second development planned is a 320-plus apartment project in Brisbane’s inner west suburb of Toowong.
CDL Australia has also recently commenced works on a second build-to-sell project, Fitzroy Fitzroy.
While back in October, the group announced its $130 million residential development, Brickworks Park, saw 95% of construction waste from demolition at the former Newmarket Brickworks site declared recyclable.
The Southbank BTR project has an estimated completion date of late 2025.
