Build to Rent, Rent to Live: How HOME Southbank is Defining Australian Multifamily Development
Session: Track C: Towers and the Challenge of Context: The Future
Director, Bates Smart
Like many countries, Australia is facing dual crises of long-term housing undersupply and low affordability. Melbourne—consistently rated one of the world’s most livable cities—is at the forefront of introducing new multifamily housing models that can help address these challenges. Known in Australia as “Build to Rent” (BTR), the market is on track to deliver a minimum of 300,000 apartments by approximately 2040; 70 percent of this stock will be located in and around Melbourne.
New high-density projects completing now are setting the standard for BTR development in Australia. This includes HOME Southbank, a 60-story tower located in inner Melbourne. This presentation explores how HOME Southbank has reimagined aspects of American high-rise multifamily developments for the Melbourne BTR psychographic; including architectural integration with the cityscape, delivering an elegant building elevating the Southbank neighborhood; shared communal spaces that cater to Melbourne’s indoor/outdoor lifestyle and build community; and in-unit and shared workspaces that blend residential and corporate design features.
Melbourne’s population is set to double to 8 million people within the next 20 years. Developments like HOME Southbank illustrate how the city is thinking, designing and building now to cater to this growth. In Melbourne, high quality, long-term rental housing isn’t a vision for the future—it’s already here, and it’s defining a new form of highly desirable urban living.