Salta Properties to develop Docklands waterfront apartments

A waterfront development in Docklands will feature 260 apartments above a five star hotel.

A feature of the development at 699 La Trobe St, Docklands, developed by Salta Properties and designed by Fender Katsalidis, is they will not be sold, instead offered as long-term multi-family leases.

Sam Tarascio, managing director, Salta Properties said the next generation of Australians are steadily becoming less obsessed with home-ownership and are renting for much longer periods than their parents, however they are usually constrained to 6 to 12 month-long leases.

“Prices in the Melbourne rental market are also increasing at alarming rates, so we are exploring a concept to respond to this situation and provide Victorians with a different housing option,” he said.

“Once developed, instead of selling the residential aspects of the building we will retain the 260 apartments and offer them as long-term multi-family leases – a tried and proven concept in overseas markets that will be new for Victorians*.”

Salta Properties will partner with InterContinental Hotel Group (IHG) to manage the five- star 170-room hotel occupying the first ten floors of the building.

Architects Fender Katsalidis have designed a sculptural three-tiered, seamless tower that reflects its water front position and takes advantage of its uninterrupted views facing upriver towards the Bolte Bridge.