This article is from the Australian Property Journal archive
RECOGNISING not all Melbourne renters want to live in high-rise apartments, developers Mirvac and Milieu have teamed up to launch Albert Fields, a purpose-built build to rent community in Brunswick.
This is the first collaboration between the two companies, who said the project will provide the flexibility of renting with the security typically associated with home ownership.
Scheduled for completion in late 2024, Albert Fields will be among the first of its kind, community designed and built entirely for renters. The one hectare urban precinct aims to provide more than 500 homes. Highly acclaimed Melbourne practices Fieldwork, Breathe Architecture and Openwork have been appointed for the architecture, interior design and landscape architecture respectively.
Mirvac’s general manager of build to rent Adam Hirst said this type of living is familiar overseas but relatively new to Australia.
“The project will be unlike anything we have seen before in Australia. More people are renting than ever before and we want to alleviate the struggles traditionally associated with this housing option.
“At Albert Fields, our residents will live on their own terms, with the control and customer care they deserve. We are delighted to collaborate with Milieu on this project which is testament to a new way of living,” he said.
Hirst said the build to rent model is positioned as Australia’s “third housing option”, putting the tenant at the centre of the service offering. Designed for residents living long term in their rental property, this model puts control back into the hands of renters, enabling them to put roots down and feel a part of their community.
Furthermore, Albert Fields aims to set new standards for sustainable living and is intended to be truly green.
Milieu director Michael McCormack said Albert Fields gives the developers an opportunity to create something truly special with the local Brunswick community.
“This is such an exciting project for Milieu, putting into practice what we’ve learned from creating much loved homes throughout Melbourne’s inner north over the past 10 years. Partnering with Mirvac amplifies our philosophy to an entirely new scale and affords a new category of tenant the chance to live in one of our intelligently designed homes.” McCormack said.
The launch of this project comes as a CBRE report recently found BTR has surpassed a major milestone of 11,000 units.
It was just three years ago when four industry leaders speaking at the Australian Property Institute conference said the BTR market could be a real game changer. Since that time, there are 11,000 units across more than 30 projects, with the market accelerating over the past 12 months.
