Developer Apt.Residential is converting the heritage building at 1–3 Smail Street into the Apt.Broadway Build to Rent scheme in Broadway, Central and Tech Central.
CBA is financing the conversion of the former Grace Brothers warehouse in Ultimo into around 160 rental homes, showcasing how adaptive reuse is playing a key role in Sydney’s housing supply story.
The redevelopment also targets significantly reduced embodied carbon through the reuse of the existing structure, relative to a demolition and new build alternative, alongside Green Star and WELL ratings, pairing sustainability outcomes with much-needed inner-city supply.
“Apt.Broadway shows how adaptive reuse can deliver more sustainable homes in the places people want to live.
“We’re proud to keep backing Apt.Residential as they scale design-led rental communities at pace.”
Jane Thomson, General Manager Major Client Group NSW, CBA
Moreover, the development is a marker for how well-located commercial stock can be unlocked for housing in precincts already served by transport, jobs, amenity and other key infrastructure.
“[I have] gratitude for CBA’s genuine partnership approach and ongoing high conviction in the living thematic.
“The team has provided invaluable support throughout the process, being flexible and offering the ability to structure bespoke solutions fit for a unique marquee heritage reuse scheme.”
Puian Mollaian, Investment Director, Apt.Residential
Construction works at Apt.Broadway commenced earlier this year and are scheduled for completion in spring 2027. CBA acted as the sole arranger and lender.
