Sydney fund manager EG, founded by Michael Easson, has submitted plans for a dual vertical development in Perth’s inner north offering Build to Rent and Build to Sell apartments.
The plans for the site in Leederville, 4km northwest of Perth’s CBD, are for 16-storey and 25-storey towers above a shared five-storey podium. The project will comprise 279 dwellings.
“People will have the opportunity to choose from a range of offerings – everything from co-housing to Build to Rent studios and four-bedroom family apartments. We want to cater for all demographics and ensure the delivery of genuine benefits to the wider community,” said EG Development Director Grant Flannigan.
Build to Rent is becoming increasingly prevalent in Australia and is attracting people who might be leaning towards retirement living. Build to Rent developers may also work in partnerships with retirement operators.
In its 2022-23 budget, revealed in May, the Western Australian Government announced sweeping reforms to housing availability including a 50% reduction in land tax to encourage Build to Rent development.
The State Government's land agency, DevelopmentWA, last month approved a $400-million revitalisation of the historic former Perth Girls School comprising 742 new apartments, 500 of which will be Build to Rent.
EG has a $3.9 billion development pipeline.
