AsheMorgan launches $700m Docklands build-to-rent project
Just a week after Lendlease (ASX: LLC) and Japan's Daiwa House teamed up to develop almost 800 build-to-rent (BTR) apartments in Melbourne Quarter, real estate investment and advisory group AsheMorgan has thrown its hat into the ring to address the Victorian capital's housing shortage. AsheMorgan has lodged plans for its $700 million-plus Docklands BTR project known as 'District Living' with the state's Minister for Planning, comprising more than 900 apartments across two buildings at 24 Little Docklands Drive. This compares to 10,000 BTR apartments planned by Scape Australia and its Dutch investment partners to be built around the country by 2030, and 3,650 apartments in the pipeline for a BTR platform led by GURNER and Qualitas (ASX: QAL).The project sits adjacent to AsheMorgan’s existing investment, mixed-use urban precinct The District Docklands, and if all goes to plan construction would start in the second half of 2024.
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