Developer CDL Australia has begun construction on its first national Build to Rent development in Melbourne’s largest urban renewal precinct. Crema Constructions has been assigned as the main contractor.
Representatives from parent company City Developments Limited (CDL), Gerald Yong (CIO), Eik Sheng Kwek (COO), Matthew Choo and Wei Jun Poh, joined Australian executives Cameron Laird and Federico Keil recently for an official ground-breaking ceremony at the site.
Situated to the Southbank area on Normanby Road, the scheme will contain 237-homes with half consisting of one-bedroom apartments, a quarter will offer two-bedroom apartments, and a final 25% will provide studio apartments.
“With construction sign-off now complete, it’s exciting to get this project off the ground and begin to help ease Melbourne’s rental supply shortage. Following the construction sign-off, demolition was completed in September, making way for the piling rig which was mobilised late September. Currently 29 piles have been completed and tested, with an estimated completion in late 2025.
“As more and more young professionals switch to remote working arrangements, we’ve included co-working areas so residents can work from home in a dedicated space, or students can easily collaborate. Additionally, a gym will be included on a mezzanine level, alongside a wellness area complete with spa and yoga studio.”
Cameron Laird, Head of Australia, CDL Australia
Amenities will include a mix of health and wellness facilities, including a gym with spa and yoga studio, collaborative working spaces, sports lounge and TV/cinema room, a barbeque area, dining room, sky lounge and deck on the top level.
The new Melbourne-based scheme will mark CDL Australia’s first Build to Rent project, with the second Build to Rent project in Toowong Brisbane starting construction in Q1 2024.
Backed by Singapore-based residential developer City Developments Limited, CDL Australia’s completed portfolio includes Ivy & Eve in South Brisbane and The Marker in West Melbourne.
Once complete, the scheme will be a part of the Fishermans Bend precinct – conveniently located just two kilometres from Melbourne’s CBD.
