Build-to-rent project at Yarra’s Edge approved

The Minister for Planning Sonya Kilkenny has given final approval for developer Samma Property Group’s 31-storey apartment building at the foot of the Bolte Bridge in Docklands to go ahead.

It comes after the plans for the 402-apartment tower were endorsed by City of Melbourne councillors in October last year, with the tower to be constructed on one of the few remaining development sites along Lorimer St.

In January, the Department of Energy, Environment and Climate Action (DEECA), formerly the Department of Environment, Land, Water and Planning (DELWP), gave the green light for the project to proceed.

The “striking” building, also set to include community recreation and open space areas, would “add to the city skyline” and provide greater diversity of local housing options, according to Deputy Lord Mayor Nicholas Reece.

Located directly next to Shed 21 on the banks of the Yarra River — a space currently occupied by One Padel Docklands — the council hoped ground-level community spaces would connect well with the heritage-listed sheds. 

“We hope that this will link with the future community use for Shed 21, and that in turn will turn this entire precinct into a vibrant community hub for Yarra’s Edge and Fishermans Bend residents,” Cr Reece said at an October 18 Future Melbourne Committee meeting.

“Given the rate of development applications and new development now going on through Fishermans Bend, we all need to crack on and get that new community area right and create that vibrant, buzzing community that we want to see.”

In recent years the council has vocally supported build-to-rent schemes, including dual build-to-rent towers next to Marvel Stadium that are now under construction.

Unlike most apartment buildings where units are sold to prospective buyers, “build-to-rent” refers to a residential development in which dwellings are retained by the developer and leased out.

Proponents have said the system can mitigate issues with housing supply, affordability and the private rental sector, while being a win for prospective tenants.

The Deputy Lord Mayor, who is also the council’s planning chair, paid tribute to the design by noted architecture firm Fender Katsalidis. •