Taking some solace from Australia’s growing appetite for build-to-rent (BtR) solutions to address the country’s chronic housing shortage, Melbourne-based developer PDG Corporation has its eyes on a major Southbank project.

Assuming the recently lodged application for subdivision of the tower site – now in the early stages of assessment with the City of Melbourne – is successful, PDG will develop 434 BtR apartments on the Southbank site, 40 of which will be earmarked for affordable housing.

PDG’s original land sale and development agreement – for a 32-storey tower with 176 apartments on the Southbank site – with the City of Melbourne for $16.5 million in 2019 – was subsequently amended (to 434 apartments) following the company’s partnership with Oxford Properties and Indi December 2021.

It’s understood that Oxford Properties will own the building on completion, while Indi – Investa’s BtR platform – will manage the building.

Meanwhile, PDG will act as the development manager and has commissioned DKO architects to handle the design.

Amenities within the 434 build-to-rent apartments will include a swimming pool, spa, gym, multi-purpose fitness room, function space, outdoor barbecue, dog run, golf driving nets and putting green, co-working spaces, library, games room, and three private dining spaces on the top floor.

Plans to develop the Southbank site follow PDG’s application filed in late 2020 to build a 42-storey tower on the site of the Boyd School at Southbank’s 132 Kavanagh Street.

Image: An artist’s impression of the Southbank BtR project.