INVESTA and Oxford Properties Group have topped out construction of a major Footscray development in Melbourne’s inner west that is the largest project in its build-to-rent (BTR) portfolio.
The partners’ Indi BTR platform, owned by Oxford and developed and managed by Investa, has reached nearly 1,400 apartments across three assets in Melbourne and Sydney, with an end value of around $1 billion.
Topping out follows on from the recent opening of the platform’s flagship BTR asset, Indi Sydney, a 234-apartment tower directly above the recently opened Gadigal Metro Station and the first purpose-built BTR asset in Sydney’s CBD.
Built by Andrew Robert’s Roberts Co, and located next to busy Footscray train station, Indi Footscray comprises 702 apartments, with a mix of studios, one, two and three bedrooms, that will provide homes for over 1,200 residents.
The construction milestone sees the building achieve its maximum height of 70 metres across 20 storeys, offering city, bay and district views from level three up across all buildings.
The partners said Indi Footscray aims to offer residents an inner-city lifestyle in the heart of the west with its vibrant café, bar and dining scene, and local attractions including the Footscray Markets, parks and the recently upgraded Whitten Oval.
Residents will have access to a range of shared spaces, tailored resident events, a rooftop barbecue and dining area, co-working spaces, a fitness centre, cinema, and a centrally located public piazza with retail.
Smart building and sustainability features including meeting the Residential Low Carbon Building Criteria under the Climate Bonds Standard, while the development is fully electric with all common areas powered by 100% renewable electricity, and it has achieved a 7 Star average NatHERS Energy rating and is targeting a 5 Star Green Star Buildings rating.
Indi Footscray is forecast to complete in the September quarter 2025, with the first residents moving in shortly after.
