The ASX-listed affordable accommodation provider has lodged a development application with Norwood, Payneham and St Peters Council to build a six-storey building with 78 fully furnished Build to Rent studio and one-bedroom apartments, 12 three-storey townhouses and 36 multi-storey townhouses on its 1.4ha site Adelaide Caravan Park in Hackney, an inner-eastern suburb of Adelaide.
The BTR apartments will be offered for short- and long-term rental, Aspen said, under its CoVE brand offering rents below the median market rent.
A cafe, gym and co-working space will also be incorporated into that part of the development. Grieve Gillett Architects designed the Build to Rent component while Forum designed the townhouse development and associated urban design.
The overall masterplan will include a new, publicly-accessible path network, which will complete a missing link along the River Torrens Linear Park in that area. Aspen said two heritage buildings would be integrated into the development and there would be off street parking for the CoVE development and the river-facing cafe, as well as an improved interface with the park and river for public use.
“Adelaide needs more affordable housing in convenient locations close to jobs and facilities,’’ Aspen Joint Chief Executive Officer John Carter said.
“Our proposed CoVE build-to-rent apartment complex will help satisfy the pent-up demand for quality accommodation at a rent that essential workers and others that need to be located near the city can afford."
The company has also submitted a development application to create a lifestyle and tourism community at Normanville, the popular
seaside resort town, 76km from Adelaide. Aspen has also bought 1ha of Viv Padman OAM's land adjacent to its over 50s Alexandrina Cove Retirement Village on Hindmarsh Island for another 25-30 houses.
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