Real estate business Pembroke has secured approval on its development application (DA) for the Young & Argyle Build to Rent scheme located in the heart of Fitzroy, in Melbourne’s northeast.
Young & Argyle will comprise 210 studios, one-, two- and three-bedroom apartments, providing housing choice for a wide cross-section of Fitzroy residents, from young professionals to small families.
“Young & Argyle will be a vibrant place where people can connect with their community. When we acquired the site, it already had planning approval, but through extensive engagement with people living, working and spending time in Fitzroy, we saw an opportunity to refine the scheme to better reflect the way people want to live today.
“The result is a more considered and liveable development, with an expanded mix of apartments, redesigned homes that maximise functionality, natural light and comfort, and enhanced sustainability outcomes.
“We also significantly reworked the resident amenity offering, introducing dedicated co-working spaces, lounges, private dining areas, hobby workshops, a gym and a café to better support contemporary urban lifestyles.
“These changes ensure Young & Argyle responds not only to demand for high-quality rental housing, but also to the character, creativity and strong sense of community that define Fitzroy.”
Joe Fitzpatrick, Regional Director for Australia, Pembroke
Designed by Australian architects FK, the development will also deliver new public realm, including a street-level café and direct connection to green space, to ensure it becomes an engrained part of the Fitzroy community.
In a suburb renowned for its creativity, layered history and urban vitality, Young & Argyle has been designed to respond sensitively to the architectural rhythm and cultural identity of the local area, reflecting its defining spirit of art, expression and authentic urban living.
“As a business that acquires, develops, and manages mixed-use environments across the world’s leading cities, we are well positioned to meet the demand for high-quality, well-located living space, rich in amenity and able to meet our customers’ work/life needs.
“Our appetite for more residential development opportunities remains, and we continue to seek long-term investment opportunities across the US, Europe and Asia Pacific.”
Jack Clark, Senior Vice President and Head of Investments, Pembroke
Young & Argyle forms part of Pembroke’s global diversification strategy, which includes luxury residences in Azabu Gardens, Tokyo and three operating Build to Rent acquisitions in London, Boston, and Washington D.C., as well as another ground-up development in Munich.
