Build to Rent investment manager apt.Residential and Dutch pension fund investor PGGM have launched apt.Meadowbank – a $280m mixed-use Build to Rent precinct in Sydney’s Meadowbank.
With a pre-approved development application, the apt.Meadowbank scheme will deliver a range of 291 studio, one-, two-, and three-bedroom fully furnished and unfurnished apartments for long-term renters across four low-rise buildings.
The project will also include over 4,000 sqm of street-facing retail and hospitality amenity space, alongside a tree canopy to add vibrancy to the existing landscape.
Situated at 1 Railway Road, demolition has started on site for apt.Meadowbank, with the project due to complete in Q4 2026.
“The project will make a valuable contribution to much needed rental apartment supply, helping to bring well considered vibrant community living to the inner north-west suburb of Sydney.
“We are looking forward to delivering on a new way for people and families to live. The current rental housing affordability crisis is expected to increase in the short to medium term, as many renters continue to struggle to access quality rental housing that they need.
“This project is our first step in a long-term vision to add necessary rental supply to the market, tailored to the needs of renters. That includes creating projects in employment and education hubs, developing convenient community amenity, and providing turnkey solutions that serve those with more transient housing needs. This will reduce up-front costs for renters, allowing them to focus on quality and location.
Matt Carolan, Managing Director, apt.Residential
Well positioned between three major employment hubs with excellent public transport connectivity including train, bus and ferry routes, Meadowbank is a desirable area, especially for young professionals, families and mature students.
The suburb’s residential vacancy rate sits at a six-year low at just 2%, mirroring the state of broader Sydney where rental housing supply is far from meeting demand.
“Apt. Meadowbank has been created with the modern resident in mind. We are creating a highly desirable destination that will be a vibrant retail precinct, access to apt.’s shared electric vehicles, co- working areas, resident lounge, activated rooftops, and other amenities.
“Apt.Meadowbank will be a multifunctional hub that caters to the needs of the community and adds to Meadowbank’s cultural fabric.
“We’re proud Meadowbank will be the location of our first landmark project. Meadowbank is the perfect place for us to deliver much-needed housing, retail and hospitality amenity, and we look forward to bringing all of this and more to the suburb’s effervescent and diverse community.”
Matt Carolan, Managing Director, apt.Residential
The apt.Meadowbank project is the first of several upcoming Build to Rent projects apt.Residential is developing with PGGM as part of their initial $1.5bn partnership.
Founded in 2024 by a group of six leaders in the property industry, apt.Residential is a Sydney-based fully integrated Living Sector Investment Manager, aiming to redefine the future of rental living in Australia.
Delivering sustainable, flexible spaces, the team’s resident-centric approach is backed by proven expertise in ensuring project excellence from conceptual design to ongoing community management excellence.
The senior management team has a substantial living sector track record across Build to Rent, PBSA, and institutional banking, in addition to investment, development, design and construction and hospitality management, over a period of 20+ years.
