Market Insights
BTR TOWER PUT FORWARD FOR ‘LAZY LAND’ IN PERTH CBD
Author: Clare Burnett Urban Developer
The Pier Street project is the second BtR project identified through the WA government’s Housing Diversity Pipeline.
Currently on exhibition for public comment, development approval is anticipated in late March. The site is close to Perth’s cultural centre, as well as the McIver train station. DevelopmentWA said that the aim is to boost the number and mix of housing in the city. Housing and lands minister John Carey said the development would help uplift the eastern end of the CBD. “The Pier Street development forms part of the Cook government’s Housing Diversity Pipeline, where we are unlocking lazy government land to bolster the supply of social and affordable housing in WA,” he said in a statement. “In collaboration with the community housing sector, the build-to-rent housing model offers the opportunity to deliver a purpose-built, proactively managed residential development that will enhance housing quality, affordability, diversity and amenity in the Perth CBD.” In December, as part of its Housing Diversity Pipeline, the WA government announced its first social and affordable build-to- rent project at a former public housing site on Smith Street, Highgate. Its projects are alongside private developer plans including EG’s Leederville development.
DevelopmentWA, the state government’s central development agency, has filed plans for an inner city build-to-rent project. The tower proposed for the 3099sq m site on what the government called ‘lazy land’, would comprise 219 apartments. The 29-storey building at 195 Pier Street would offer a mix of social, affordable and market housing, and be owned and operated by a community housing provider. The project will offer “extensive” podium-level amenities, and a mix of “well-proportioned” studio, one and two-bedroom apartments, according to the planning documents filed with the City of Perth. Of the mix, 30 per cent will be social, 20 per cent will be affordable and the remaining 50 per cent market rental products, including 10 specialist disability accommodation apartments. According to DevelopmentWA, all units will be ‘tenure blind’, meaning there is no specific allocation of social, affordable or market rental homes, and all apartments are designed to the same specifications The developers hope it “will establish a sustainable and replicable build-to-rent model for inner-city, multi-storey apartment living”. The Pier Street project is being led by Hassell Architects and Hatch RobertsDay. The architects say that its design will be inspired by the precinct’s established history with print media, close to the homes of The Sunday Times, The Australian and The West Australian newspapers.
108 – February /March 2024
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