Property group Salta has officially topped out at the $500m Riverline Build to Rent development at 25 River Boulevard in Richmond. The Honourable Sonya Kilkenny MP, Minister for Planning was in attendance to support the topping out ceremony.
Delivered by L.U. Simon Builders, the scheme will comprise 476 apartments across six buildings, designed around a series of connected ‘mini neighbourhoods’ and a central public plaza.
Uniquely set into nature on the bank of the river and just three kilometres from Melbourne’s CBD, amenities include a 25-metre outdoor pool, wellness and fitness centre, co-working spaces, cinema, private dining rooms, residents’ lounge, rooftop dining and multiple outdoor communal spaces.
Named Riverline after its proximity and frontage to the Yarra River, the scheme is the second to be delivered through Salta’s Build to Rent platform Est following the success of Fitzroy & Co, which opened in October 2024 and has since reached full occupancy. Est will own and operate the development.
“Reaching the top of Riverline is a significant milestone for Salta and for Est, but more importantly it means we are getting closer to delivering 476 new homes into a market that needs more housing supply. We started this project with a long-term view of what Build to Rent could offer Melbourne. Riverline is about more than apartments – it is about creating a well-designed neighbourhood where people can live, work, connect and stay for the long term.
“Salta has a pipeline of quality projects which can make a significant contribution to Victoria’s Housing Statement. With the right tax settings, in particular a review of Victoria’s onerous Foreign Purchaser Additional Duty, we can unlock much needed investment to deliver more projects like Riverline, sooner, and we are committed to working with Government to achieve the right settings to deliver our aligned housing goals.”
Sam Tarascio, Managing Director, Salta
According to Charter Keck Cramer’s H1 2026 State of the Market Report, Melbourne is forecast to deliver approximately 8,200 apartments in FY2026, comprising 4,400 Build to Rent apartments (54%) and 3,800 Build to Sell apartments (46%).
“Build to Rent has become the largest source of new apartment supply in Melbourne and is playing a critical role in addressing the city’s housing shortfall. It brings long-term investment into housing and creates a model where the same owner is responsible for the development, operation and ongoing experience of residents, which provides a positive outlook for both the longevity of the asset and the experience of the resident.
“Riverline is a good example of what that can look like when you bring together quality housing, considered design, amenity and a genuine connection to place. We need to see more projects like this delivered across Victoria, and an environment that gives long-term investors confidence to keep putting capital into new housing.”
Sam Tarascio, Managing Director, Salta
The development forms part of Salta’s broader Victoria Gardens revitalisation masterplan; a long-term urban renewal initiative that the Tarascio family have been progressing since the early 1990s.
Once complete, the broader Victoria Gardens masterplan is expected to contribute over 3,397 direct jobs, inject approximately $836.5m annually in direct and indirect value into the Victorian economy, and deliver over 10,000 sqm of new public space alongside upgraded community facilities and connections to the Yarra River.
“We are delivering thousands of homes right across Victoria and working with industry to help working Victorians get into their own home.”
Hon. Sonya Kilkenny MP, Minister for Planning
Riverline will also deliver a significant contribution to the surrounding community, including over $200,000 towards a major upgrade of the Annette’s Place neighbourhood park to provide a greater range of facilities for Richmond’s rapidly expanding population, alongside improved precinct and Yarra River connections, and a publicly accessible landscaped central plaza and riverbank incorporating First Nations storytelling.
The new scheme now forms part of Est’s over $3bn Build to Rent pipeline, which is expected to deliver approximately 2,700 apartments across Melbourne. Riverline is set to welcome its first residents in in Q3 2027.
