Melbourne to welcome world’s tallest student housing
Specialist accommodation group Scape Student Living has refined its plans for a tower opposite Melbourne’s RMIT University and flagged that it will introduce its City Living ownership model at the site.
The 60-storey tower is part of the wave of student towers under way in Melbourne. Such buildings are becoming a key element of the build-to-rent model in Australia.
Scape has trimmed the height and scale of the proposed $300 million tower but it will still be the world’s tallest student accommodation development and contain 740 beds, alongside associated retail and office components.
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“The previously approved residential development on this site has been remodelled to provide a mixed-use ecosystem of academic opportunity in Melbourne,” Scape Australia director Craig Carracher says.
The tower at 97 Franklin Street sits in the heart of the city’s academic quarter and Scape is looking to bolster its build-to-rent model with 146 short to medium-stay City Living units for key workers, academics and professional staff in the complex.
Scape is due to open another complex at 393 Swanston St in February 2018 with over 750 student accommodation units.
Further details of its City Living offering remain under wraps as more groups look to grow in the space.
This article originally appeared on www.theaustralian.com.au/property.
