THE ACT’s first build-to-rent site has been released for sale in Turner.
The built-to-rent model is a multi-unit development where the residential dwellings will be retained by one owner and rented out long-term, rather than being sold.
The site in Turner, along Northbourne Avenue (Block 3, Section 57), will be sold by the Suburban Land Agency, which sold the adjoining block for $59.3 million in June.
At least 15 per cent of dwellings are required to be affordable rentals and the site was chosen for its proximity to the light rail and city centre.
Chief Minister Andrew Barr said he wanted to see more build-to-rent projects in the ACT.
“The ACT government will be pursuing private investment into these projects over the coming years,” he said.
“The build-to-rent project in Turner will provide purpose-built and long-term housing, helping to improve housing choice and affordability in our city.
“It also offers a great investment, with the ACT tax system supportive of build-to-rent developments where there is no unit titling of the individual dwellings through substantially reduced land tax and general rates.”
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