The ACT Government’s tax system to entice Build to Rent (BTR) development offers reduced land tax and general rates, which has seen Brisbane-based investment firm Cedar Pacific pay $30 million to the government for a 7,070msq public housing site released for sale as a dedicated BTR proposition.
Cedar Pacific’s proposed BTR housing project in the Canberra suburb of Turner will be a campus-style, multi-building development that could deliver 300 units, 15% “affordable”.
A community housing provider will manage the affordable housing component of 40-plus units.
There will be three or four timber buildings on the site, ranging from five to eight storeys.
“There will be between 4 and 5msq per apartment of internal communal space and then curated external communal space as well,” said Cedar’s Development Director Adam Frost (pictured), who is responsible for the 200-unit Realm, Kangaroo Point BTR property, and the 437-unit Realm, Caulfield BTR project, two of the first wave of BTR properties to become operational in Australia.
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