The inner-city communities where you can live, but you’ll never be able to buy
Brisbane’s ever-tightening housing squeeze is driving property developers to embrace the so-called build-to-rent model in new construction projects.
Arklife's Robertson Lane build-to-rent development
Heavily backed by the Palaszczuk Government as a means of easing affordable housing supply shortages in south-east Queensland, build-to-rent projects are beginning to dot most of Brisbane inner suburbs as developers try to jump on board a fast growing market.
The Government has begun several expressions-of-interest exercises to encourage new build-to-rent projects, offering targeted rents subsidies to attract investment from developers and touting such buildings as a means of housing more people closer to the CBD, which remains a magnet for jobs.
The build-to-rent model, allows apartment building owners to directly rent to tenants, a transaction that encourages longer tenancies and a stronger community atmosphere to new developments.
Its supporters also argue the model encourages better quality of constructions and more sustainable design as developers do not have the same incentives to cut costs as they do with build-to-sell apartments.
The Robertson Lane project includes a rooftop pool. (Image: supplied)
Build-to-rent operator Arklife is promoting its new 12-storey development near Fortitude Valley’s trendy James St precinct and another at Cordelia St in South Brisbane as typical of what such products can offer tenants.
The two projects will add more than 350 apartments to Brisbane’s inner-suburban rental market.
The company’s Robertson Lane project sits between James St and Howard Smith Wharves and will feature services and activities including regular group fitness classes, community and networking events, onsite concierge and resident services team, dedicated takeaway food delivery bay and secure delivery lockers for parcels.
The Government says build-to-rent is part of a $1.8 billion housing strategy aimed at delivering thousands of new affordable rental homes across the state.