MAB Corporation to reserve first release of three Melbourne apartment developments for first home buyers

First home buyers will get an exclusive crack at three of the latest apartment projects by the Melbourne apartment developer, MAB Corporation.

A Victorian-first, MAB are offering what is essentially a pre-release of apartments just for those getting on the ladder for the first time, with an eight-week window before the apartments are available to everyone.

The three inner northern ring apartments, Academy North Melbourne, Merri Northcote and Preston Crossing, will see first home buyers get a chance to purchase with a three percent deposit, or less than $11,000.

For deposits greater than three per cent, purchasers will be entitled to a rebate that reduces the balance paid at settlement – an initiative designed to encourage saving while the homes are delivered.

Over 100 new apartments across the three projects will be available to first home buyers before launching to the broader public in 2022.

MAB General Manager Residential, David Allt-Graham said the initiative is a great opportunity for first home buyers.

“MAB understands the challenges first home buyers face entering the inner-city property market and we believe that this initiative will help people in our city purchase their first home in tightly held inner-city locations," Allt-Graham said.

“What’s more, all three projects are being developed as sustainable, future-proofed homes with a minimum 7 Star NatHERS rating along with our commitment to deliver a 5 Star Green Star As-Built certification.

"With a focus on sustainability, and operating fully electric, we’re ensuring these future residents will have homes that are less expensive to operate and are better for the environment as we move towards a carbon-free future.

About MAB’s Participating Projects

Academy, North Melbourne

The third collaboration between MAB and architect McBride Charles Ryan (MCR), Academy comprises 17 townhouses and 150 apartments and showcases an innovative, avant-garde design underpinned by flexible, welcoming homes that elevate the wellbeing of residents.

Merri, Northcote

Designed by Six Degrees to complement the natural beauty of Merri Creek, Merri Northcote will be home to 151 apartments upon its completion.

The new homes at the development aim to feel familiar and are immersed in their lush surroundings – encouraging a connection to nature through planned biophilic integrations and easy access to walking tracks.

Preston Crossing, Preston

Spearheaded by renowned architects Hayball, Archier and Breathe Architecture, Preston Crossing will home a mix of apartments and townhouses totalling 147 dwellings, which will champion progressive design and a connected community.