ADCO has commenced construction on a 29-storey, build-to-rent development with Arklife, funded by Qualitas Group in South Brisbane.
When complete, 17 Cordelia Street will include 265 residential units, an indoor gym, roof top pool, barbeque and dining area, lounge area, a private cinema and associated landscaping.
A heritage-listed building will be incorporated into the design for commercial and retail use. Additionally, 314 car spaces, 347 bicycle spaces will be provided in basement levels.
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The building will target a 5-star Green Star design and As Built rating, an average NatHERS rating of 7.5-stars and a NABERS Energy for Apartments rating of 5 stars.
ADCO CEO Neil Harding said build-to-rent is gaining in popularity and provides tenants with a more cost-effective and stylish way to live in South Brisbane.
“We are excited to be building the first build-to-rent concept in the market supported by a sustainable investment fund,” Harding said.