Salta announces entry into build-to-rent market with new project in Fitzroy North

Salta, one of Australia’s premier property groups, has marked its entry into the build-to-rent (BTR) sector with its project in Fitzroy North reaching a significant construction milestone. The project, part of Salta’s new BTR platform Est., signifies the company’s expansion into providing premium rental options, with over 4,000 apartments planned, including developments in Docklands and Richmond.

The Fitzroy North project, dubbed Fitzroy & Co., has topped out and is on schedule to open its doors to residents from July. This development will offer 94 apartments, ranging from one to three bedrooms, and is designed with more than 1,000 sqm of lifestyle amenities and shared communal spaces. It aims to provide a blend of high-quality, long-term rental housing with the benefits of a connected community living experience.

Salta’s Managing Director, Sam Tarascio, emphasized the strategic nature of this move into the BTR sector, noting, “Salta’s $3 billion move into the BTR sector will bring our total pipeline of residential, office, industrial and retail development to over $6 billion, building on the $3.5 billion of assets already under management.” Tarascio further explained the goal of enhancing the Est. brand by creating a unique living experience based on extensive market research and planning. He highlighted the growing demand for quality, accessible apartment living options that offer both stability and flexibility.

Fitzroy & Co. will feature a range of amenities aimed at enriching the resident experience, including a rooftop terrace, pet park, concierge service, and various spaces for fitness, work, and entertainment. Additionally, the development will feature a large public art commission to engage and connect with the broader community.

Josh Carney, Salta’s Head of Build to Rent Operations, with over a decade of experience in the United States’ BTR market, shared insights into the values driving the project. He mentioned, “Renting is often viewed as a transient arrangement, but the design of our apartments and curation of services aims to break that perception to create a ‘neighbourhood’ of long-term residents.” Carney outlined Est.’s proactive role in fostering community through regular activities and programs, including a unique loyalty program to reward and encourage resident loyalty.

Salta is also exploring partnerships with local businesses to offer a wide range of convenient services to residents, enhancing the appeal of the Est. brand. According to Carney, the attention to detail in hospitality, resident services, and apartment design and customization options are what will distinguish the Est. living experience.