In a further challenge to retirement living operators in the ACT, a new $45 million Build to Rent (BTR) development is planned for an outer Canberra suburb.
The Borough at Denman Prospect will include 162 units across two buildings in its first stage, plus basement carparks and landscaping. Denman Prospect is a developing suburb in Canberra’s west, which has experienced rapid growth since its first residents arrived in 2013.
In a statement seen by the Canberra Star, Capital Estate Developments – which will operate the complex after its completion by builder Jega – says it will offer “high-quality yet affordable rental options” and “housing stability”.
“Residents at The Borough will enjoy an elevated living experience, close to amenity, with many enjoying quintessential views across the Molonglo Valley.
“Like all of Denman Prospect, The Borough will be thoughtfully designed with the future in mind, incorporating solar panels, electric car charging stations, drone landing zones, grey water management, sustainable building materials and community gardens,” the developer said.
The ACT has pushed BTR in recent months, with the territory’s Government last month releasing a block of land for a pilot project in the inner suburb of Turner.
BTR represents a challenge to the traditional model of retirement living, as it is intergenerational and offers similar amenities to retirement villages with no DMF.
