With financial incentives making it possible Rent to Live Co, a spin-off by the founders of student housing provider Scape, has announced a $1.5 billion Marrickville Timberyards development with almost 1,200 rental units, including 115 affordable homes.
The 2.2ha industrial site development would be transformed into seven apartment towers, with public outdoor space as well as retail and creative spaces.
Financially it has been boosted by the NSW Government giving Build to Rent projects a 50% reduction in land tax, along with exemptions from foreign investor duties.
Southern Cross Care NSW & ACT has a retirement village in Marrickville, called Patrick Minahan, and Uniting NSW.ACT opened McRae-McMahon Place and Hawkins Place in neighbouring Leichhardt.
Scape has been reportedly interested in buying a stake in Brookfield Asset Management’s Aveo, on the market for $3.5 billion.
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