Alongside real estate company Colliers and investment firm Brightlight, developer Samma Property has recently taken the Lorimer Street Waterfront Tower Build to Rent project on the western end of Yarra’s Edge to market.
Currently, the Build to Rent (Designed to Rent) development has been predicted to be worth over $250m.
Designed by architects Fender Katsalidis, the scheme will deliver 404 new apartments aimed at millennials aged 25-45 years – and is set to benefit from Melbourne’s rental shortage.
At Lorimer Street, Samma Property is aiming to achieve a 7-star NatHERS rating and 5-star Green Star certification.
The 31-level tower will have two levels dedicated to amenities, alongside car parking, and onsite management team, and an ongoing activity program that will help improve mental health and wellbeing.
The scheme is situated on the Yarra River, with views over the Docklands, towards the CBD and Port Phillip Bay.
In late 2021, Samma Property and impact investment firm Brightlight unveiled plans to expand into the sector, with four Build to Rent developments in Melbourne.
The partnership of the companies follows the expansion of its social impact platform.
