apt.Residential has acquired a prime urban infill site at 41–49 Mountain Street, Ultimo, directly adjoining apt.Broadway – its recently approved heritage redevelopment at 1–3 Smail Street.
Spanning 2,840 sqm of land, the developments will deliver 260 Build to Rent homes, comprising 160 apartments at 1–3 Smail Street and a further 100 apartments at the newly acquired Mountain Street site.
Apartments will be fully furnished with utilities and internet included. Amenities include a wellness centre, co-working hub, communal dining areas and a rooftop terrace.
The acquisition consolidates apt.Residential’s position in one of Sydney’s key inner-urban locations and sets the stage for a $240m+ residential and retail transformation, that will revitalise the area and unlock the potential of a key inner-city site.
“With this acquisition, we’re creating a new precinct that transforms two underutilised inner-city assets into a connected residential and retail destination.
“It’s a rare opportunity to deliver scale, sustainability and social value in a high-amenity, heritage-rich setting and we’re pleased to be providing much needed, new rental housing to the City of Sydney.”
Matt Carolan, Managing Director, apt.Residential
Set in the heart of the Ultimo Heritage Conservation Area, the scheme will revitalise a former Grace Brothers warehouse and the adjoining heritage-listed electrical substation on Smail and Mountain Streets.
Affordable housing and new retail spaces fronting both Smail and Mountain Streets will be included and up to 225 jobs will be generated during construction and operation.
The sites are strategically positioned near major educational, health and innovation hubs including the University of Sydney, University of Technology, Royal Prince Alfred Hospital, and the new Tech Central precinct, and are walking distance to Broadway Shopping Centre and Central train and bus stations.
“apt.Broadway will offer an inclusive, modern housing solution that celebrates its heritage and reflects the needs of a vibrant, evolving neighbourhood.
“The robust design and materials of the building will enable us to create character-rich apartments that blend historic charm and material authenticity with modern design, functionality, and technology.”
Juey Thanyakittikul, Development Director, apt.Residential
Green light for transformative heritage redevelopment at 1-3 Smail Street, Ultimo apt.Residential recently received development approval to revitalise this heritage asset into a modern, sustainable urban living development.
A portion of the apartments will be allocated to workers in the creative and performing arts sectors, which will help artists and creatives continue to live and work in the city centre.
The development prioritises sustainability and is targeting a 5 Star Green Star and Gold WELL rating. It will operate on 100% renewable energy in operation and achieve an estimated 80% reduction in embodied carbon compared to new construction – avoiding approximately 2,700 tonnes of CO₂e.
Construction is expected to commence later this year, with completion targeted for late 2026.
