The Suburban Land Agency has launched a market sounding process and is calling for feedback on bringing a Build-to-Rent housing model to Canberra to grow the range of available housing options.
Announcing the launch of the sounding process, Chief Minister, Andrew Barr said the Build-to-Rent model offered high-quality homes that were designed to meet the needs of renters and offered longer rental periods.
“The Build-to-Rent model focuses on increasing the supply of long-term rental housing with the construction of multi-unit developments designed specifically for renters rather than buyers,” Mr Barr said.
“The market sounding process is the first step in bringing Build-to-Rent to Canberra,” he said.
“Through the Suburban Land Agency, the ACT Government is seeking feedback – not just from industry and investors, but also from the community housing sector and others who are interested in Build-to-Rent models in Canberra.”
Mr Barr said Build-to-Rent was part of the Environment, Planning and Sustainable Development Directorate’s ACT Housing Strategy, released in 2018, to improve rental supply and affordability.
In a statement, the Suburban Land Agency said Build-to-Rent was an asset class that was typically owned long-term by a single owner, usually an institutional investor, and was designed with high-quality common spaces and homes as well as extra services for residents.
“Through this market sounding process, we are seeking feedback and interest from industry and the community housing sector to participate in the delivery of Build-to-Rent in Canberra,” the Agency said.
It said Build-to-Rent housing could establish higher quality rental homes; offer longer periods of tenure for renters; include affordable rental options; and offer long-term, steady revenue generation for the owner.
Further information on the Agency’s market sounding process can be accessed at this PS News link.
