Australia: Greystar has partnered with Malaysian developer UEM Sunrise Berhad for a BTR project at Collingwood in Melbourne.
It will be the first BTR development in the suburb and is planned for a 5,390 square metre site at 21-53 Hoddle Street. Cox Architecture will design the plans for the site after winning a design competition against three other major firms.
The 400-unit project will consist of two towers, a skybridge, a residents’ garden, a public town square and pedestrian links to Hoddle, Langridge and Islington streets.
There will be a mix of studios and one- to three-bedroom apartments plus a pool, gym, movie room, wellness and entertainment spaces, bicycle storage and parking, electric vehicle charging stations, a concierge service and coworking spaces. The public square will have food and beverage options, shops, greenery and essential services.
Greystar will own and operate the site while UEM Sunrise will be the developer and delivery partner. Plans are due to be filed next month with construction scheduled for mid-to-late 2024, pending planning approval. Construction is expected to take three years.
UEM Sunrise bought the site from Jowett Properties in March 2021 for $21.5 million.
