EG Funds has won its bid to construct a $135 million residential complex, including Build To Rent (BTR) units, at Leederville in Perth’s inner north.

The Frame Court development, built across two towers, will comprise 279 apartments split between BTR and build-to-sell units, as well as commercial and community spaces; as reported in Business News, it received unanimous approval from an assessment panel, which hailed it as a “benchmark” of development planning.

According to EG’s Development Director, Grant Flannigan (pictured), Frame Court will “deliver high-quality, accessible housing at a time when Australia’s housing markets, particularly our major cities’, are ranking as some of the world’s least affordable”.

“Significant change to the land tax legislation in WA has extended further opportunities to develop affordable build-to-rent and to add housing diversity and address affordability,” he said.

The WA Government is pushing BTR with new tax breaks in an effort to drive up housing supply; this could pose a challenge to retirement village operators in the state, as baby boomers are increasingly seeing BTR as a viable alternative to the traditional village.

Construction on Frame Court is expected to begin in 2024.