Real estate investment and advisory group AsheMorgan has unveiled plans for the $700m-plus District Living project – one of the country’s largest Built-to-Rent developments in Docklands, Melbourne.
Located at 24 Little Docklands Drive, the District Living project will comprise over 900 BTR apartments across two buildings.
District Living is currently before the Minister for Planning and following approval, is scheduled to commence construction in the second half of 2024.
The project will offer a mix of studios, one, two, and three-bedroom apartments as a means of catering to young families within the Docklands Primary catchment.
Residents will have access to 4,000sqm of amenity including a state-of-the-art wellness centre inclusive of a fitness studio, plunge pool, sauna and steam room and a stunning sky terrace with kitchen, dining and relaxation spaces.
Residents will have access to about 2,500sqm of private outdoor space including an outdoor dog park and dog wash, an outdoor fitness area, and large green open spaces to relax.
Publicly accessible spaces include retail spaces on the ground floor, and a further 1,500sqm of public outdoor open space.
The large-scale project is positioned adjacent to 80,000sqm of existing amenity including Melbourne’s largest supermarket, Costco and AsheMorgan’s existing investment, The District Docklands, a vibrant mixed-use urban precinct.
With North Melbourne train station only 500m away, the group has aspirations of connecting District Living via a footbridge overpass on Footscray Road, to further streamline its connection to transport.
AsheMorgan Development Director Mat Stoddart said the project will help cater to the growing demand for high-quality apartments within the suburb, in particular, families who want to live in the Docklands Primary catchment and those already renting.
“Melbourne is facing a significant undersupply of housing over the coming four years; research suggests that there will be an undersupply of around 10,000 residences in 2026 alone,” Stoddart said.
“Couple this with a tight rental market and over 67 per cent of the population in Docklands already renting, it is an area ripe for a well-designed BTR development.
“Over 50 per cent of residents within Docklands are aged between 20 and 40 and almost 60 per cent are working as professionals or managers, making them the primary target market for BTR.
“Armed with this knowledge, we have delved into understanding more deeply how people want to live, which has led us to be much more generous and considerate in our design approach for these apartments, with a portion specifically designed with families in mind.
“This includes both two and three-bedroom apartments that have baths, walk-in wardrobes as well as a unique offering in the form of Soho-style apartments across two levels. The project will also be all-electric and target a 7.5 NAThers rating, passing further cost-savings onto renters.
“This project is ideally located and unlocks a plethora of amenity for residents; everything they need, from everyday essentials to education, is right on their doorstep.”