Australian Build to Rent provider Local Residential – alongside construction partner Hacer Group – celebrates the topping out of its Local Kensington Build to Rent development.
Present at the topping out ceremony on Monday were Local’s Founders and Co-CEOs Matt Berg and Dan McLennan, Lord Mayor Sally Capp, and key Local stakeholders from Macquarie Bank, NAB, Hacer Group and Women’s Property Initiatives.
Located in the inner-city Melbourne suburb of Kensington, the 477-home scheme will deliver a mix of one-, two- and three-bedrooms apartments and has an end value of $315m. The apartments at Local Residential will be ready for rent in mid-2024.
“At a time when we’re facing housing challenges, Melbourne sorely needs more quality homes in well-connected communities that also provide residential security for tenants. Our offering also includes an Impact Housing initiative, contributing 33 social and affordable homes through partnership with the Women’s Property Initiatives, allocating these homes to women over 55 experiencing or at risk of homelessness.
“The Impact Housing also includes nine specialist disability accommodation homes being delivered by Home in Place, and affordable accommodation for key workers needed to support the service requirements in Melbourne.
“We are extremely proud of these partnerships and look forward to seeing the transformative impact of these housing initiatives on our communities. Dan McLennan and I set out with a vision to not just build apartments, but to build homes where families thrive and neighbourhoods flourish. We are committed to creating sustainable, inclusive spaces that stand the test of time.”
Matt Berg, Founder and Co-CEO, Local Residential
Kensington has been recognised for its convenient accessibility to local schools, shops, public transport and CBD connectivity – placing Local Kensington in a prime location suitable for young professionals and families alike.
The campus style development creates a village precinct with a shared landscaped internal courtyard providing a communal link between the six buildings, each consisting of eight storeys. The development also comprises 461.5m2 of retail offerings along Macaulay Road designed to activate the street frontage, and the Macaulay/Stubbs precinct.
Amenities include two fully equipped private dining rooms, a 250 sqm gym and wellness zone, a resident co-working space, cinema, art studio and resident lounge overlooking the outdoor pool and deck.
“From the initial planning stages to construction, we prioritise minimising Local’s ecological footprint, aiming to create residences that not only meet the needs of today but also safeguard the wellbeing of future generations. Through building design and operations, Local seeks to pioneer a new standard in sustainable Build to Rent, demonstrating how thoughtful development can coexist harmoniously with the environment.”
Dan McLennan, Founder and Co-CEO, Local Residential
Apartments at Local Kensington were designed by award winning architecture firm Hayball, with Melbourne based landscape architecture firm Openwork designing the vision for the outdoor spaces.
Dedicated to creating more sustainable business practices, Local integrates eco-friendly design, energy-efficient technologies, and green building materials into every aspect of its projects.
