Build-to-rent plans as Salta Properties secures approvals at Victoria Gardens, Richmond

Yarra Council has approved Salta Properties plans for its $390 million plus mixed use project. 

Salta Properties plans to explore a build-to-rent model at the project, which comprises of 426 dwellings with a mix of one, two and three bedrooms over the five separate apartment buildings.

They were one of first Australian developers to announce a build-to-rent model with 16 floors of residential stock at 699 La Trobe Street in Docklands in early 2017.

Salta Properties welcomed the City of Yarra’s unanimous decision approving its development plans for a more than $390 million mixed-use project across a 14,766 sqm site adjacent to Victoria Gardens Shopping Centre in the heart of Richmond.

Designed by the architects at Rothelowman and located on the south-west corner of Victoria Street and River Boulevard, the prime location led Salta to design a project comprising residential, commercial office and retail spaces across five buildings ranging from seven to 13 storeys.

The stand-out development boasts a unique 3,000 square meter linear park designed by landscape architects, ASPECT Studios to provide a pathway between buildings.

Salta seeks to bring the entry of the existing Victoria Gardens Shopping Centre to the River Boulevard, as well as providing an additional 775 carparks across four basement levels, a medical centre, childcare facility and restaurant precinct.

“In close to proximity to Melbourne’s CBD and the tranquil Yarra River, this development sits in the heart of Richmond, making it an unrivalled site for Salta Properties to offer a design solution that will become the very best place to live, work and shop,” said Sam Tarascio, Managing Director at Salta Properties.

Since the precinct has a strong commercial leasing environment and low vacancy rate, Salta Properties says it will seek to immediately offer the three level 3,500 sqm office and 5,500 sqm restricted retail to the market.