Plans revealed for build-to-rent Victoria Harbour tower

Plans for a residential tower featuring 500 build-to-rent apartments at Victoria Harbour have been lodged with the state government.

The 24-storey proposal at 907-913 Collins St, next to Buluk Park and opposite Library at the Dock, were submitted in May by developer Lendlease.

The Cox Architecture design features a ground floor comprising private dining rooms, a media room, pet facilities and even podcast studios, with 499 studio, one, two or three-bedroom apartments in the 23 storeys above.

The tower — which would represent Lendlease’s latest offering at the five-tower, $1.5 billion Collins Wharf precinct —would also have a lap pool, outdoor gym and 412 spaces for bike storage.

If approved, future residents would have unencumbered views of both the Yarra River and Victoria Harbour and be part of a growing number of build-to-rent buildings in Docklands.

In recent years the City of Melbourne has vocally supported build-to-rent schemes, including dual build-to-rent towers next to Marvel Stadium that are now under construction, and a 31-storey apartment building at the foot of the Bolte Bridge.

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.

“We welcome applications for build-to-rent, as we believe that offers a greater diversity of options to people to put a roof over their head and have a home,” the council’s planning chair, Deputy Lord Mayor Nicholas Reece has said.

Lord Mayor Sally Capp said in 2021 that the 28- and 30-storey developments on La Trobe St next to the stadium would bring a “much-needed diversity of accommodation to our city”.

Lendlease’s Head of Apartments Dan Dugina told Docklands News that this was also central to their thinking on the project.

“Our proposed development aims to deliver a 24-storey build-to-rent tower, with an extensive range of residential amenity and services that is set to meet the needs of a diverse community including young professionals, students and growing families,” he said.

Subject to planning approvals, we look forward to expanding on our build-to-rent capability in Australia and continuing to play an important role in boosting the supply of high-quality, long-term rentals in the Australian market.

The latest Collins Wharf proposal will next go before the City of Melbourne, before Minister for Planning Sonya Kilkenny makes a final determination on the project. •

Caption: If approved, the Collins Wharf tower would become part of a growing number of build-to-rent Docklands buildings.