Claremont on the Park

Work is set to begin on Iris Residential’s The Terraces, Claremont development early in 2023, with BGC Construction appointed to build what is expected to be Australia’s most sustainable large-scale apartment project.&nbsp;

The local construction group will soon begin building the $150 million development, in is the final piece of the puzzle in DevelopmentWA's sought-after Claremont on the Park precinct.&nbsp;

The eight-storey, 137-apartment luxury building, which is scheduled for completion by late 2024, will set a new benchmark for sustainable residential development in Australia – with the project achieving an industry-leading average 8.05-star Nationwide House Energy Rating Scheme (NatHERS) rating.

NatHERS ratings are used to predict the amount of heating or cooling dwellings need to stay comfortable in all weather conditions. In Australia, residential developments are required to meet a minimum 6-star NatHERS standard.

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Iris Residential Managing Director, Simon Trevisan said the 8.05-star rating is something they don’t believe has been achieved in any other large-scale residential development anywhere in Australia.

“Most apartment developments of this size come in at the 7 to 7.5-star level, and certainly we haven’t been able to find anything comparable out there in the market either here in Western Australia or on the east coast.”&nbsp;

The highest-rated residences at the HASSELL-designed project reach 9.7 stars on the 10-star scale, which means those apartments are virtually self-lighting and self-climate controlled, while close to 30 per cent of the apartments at The Terraces will achieve a 9-star NatHERS rating.

A comprehensive suite of sustainability features will reduce energy use by 35 per cent, including natural cross ventilation over 92 per cent of residences and a 40 per cent reduction in internal lighting energy consumption.

Double glazing, sliding balcony screens, enhanced breezeways and a northerly orientation for all apartments will ensure buyers are comfortable year-round, no matter the weather, without having to rely on artificial heating or cooling.

Trevisan said he anticipated sustainability performance at The Terraces would resonate strongly with buyers on a number of fronts.

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“This is what sustainable design is about – there are no compromises, no greenwashing,” he said.&nbsp;

“The greenhouse gas emissions benefit via electricity use reduction is real and measurable, and the cost savings from significantly lower power bills are also tangible. A strong sustainability performance means reduced costs for homeowners, whether we’re talking about their power bills or strata levies.

“A more intangible, though absolutely important, benefit is the quality of life that comes from living in a space filled with natural light and fresh air. First and foremost we’re about delivering comfortable homes for people, and it should be the most comfortable home we can provide,”&nbsp;Trevisan added.

Located along the boundary of the historic Claremont Oval, The Terraces sit in the heart of the affluent Claremont locale, set to take advantage of all the area has to offer, with the suburb home to river vistas, leafy parklands and many of Perth’s most exclusive boutique retail outlets.

Residents at The Terraces will also benefit from the close proximity to Claremont train station, now offering direct access to the new Forrestfield-Airport METRONET link, reducing the need for car travel and further adding to the development’s sustainability credentials.

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Trevisan said sustainability was a key element in Iris Residential’s development strategy, acknowledging that residential developers had a big role to play in achieving emissions reductions targets.

“Iris has been a leader in sustainable development in Western Australia for decades, it’s a key part of our point of difference in the apartments space,” he said.

“According to the Department of Climate Change, Energy, Environment and water, energy use in residential buildings accounts for 24 per cent of overall electricity use and 12 per cent of total carbon emissions.

“By increasing energy efficiency, households not only enjoy lower energy bills but have higher quality of life, while also being satisfied in the knowledge that they are making a real contribution to addressing climate change.”

The Terraces will join BGC’s already sustainable portfolio, with the Western Australian builders committed to creating environmentally-friendly developments.&nbsp;

“We have a desire to reduce environmental impacts as effectively as we can, with a strong focus on positive environmental outcomes,” they say.&nbsp;

“We place an emphasis on targeting projects with a significant environmental design factor.”

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BGC has also strung together a list of awards over their time, most recently being awarded the 2022 MBA WA Excellence in Construction award for the best regional project.&nbsp;

The group previously worked on Iris’ Shenton Park project, Shenton Quarter, which is slated for completion by early next year.&nbsp;

The mixed-use development was one of the first projects to be endorsed by the State Design Review Panel and was commended for its best-practice sustainability features, which have been designed to achieve the equivalent of a 4-star Green Star rating.

DevelopmentWA acting Chief Executive Dean Mudford said close consultancy with town planning firm Element will ensure that The Terraces will integrate seamlessly into the multi award-winning precinct, Claremont on the Park.

“As the Western Australian Government’s development agency, DevelopmentWA has a critical role in helping lead the way to a more sustainable way of living – ensuring the communities and projects we deliver demonstrate new, smarter ways to live and work,” Mudford said.&nbsp;

“At Claremont on the Park, sustainable development has been a fundamental part of our vision in creating this thriving, connected and award-winning precinct, and it’s been really pleasing to see industry embrace that vision as the project has taken shape."

“With what is expected to be a nation-leading sustainability performance, The Terraces is an outstanding example of what can be achieved as part of a master-planned and focused approach to precinct-scale development,” he added.&nbsp;&nbsp;

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Australian private debt provider, Metrics Credit Partners, funded the acquisition of the land in 2021 and continues to support the project as it moves through to the development phase.

Metrics Managing Partner Andrew Lockhart said that from a lender’s point of view, the sustainability outcomes of The Terraces improved the marketability of the finished residences, helping to mitigate credit risks.

“ESG and sustainability factors are at the heart of Metrics’ approach to assessing and managing risk for investors,” Lockhart said.

“We are delighted to see such great alignment between the developer, buyers and financiers to achieve meaningful advances in the sustainability factors for residential developments – and these are clearly demonstrated in The Terraces.”

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The eight-storey, 137-apartment luxury building, which is scheduled for completion by late 2024, will set a new benchmark for sustainable residential development in Australia – with the project achieving an industry-leading average 8.05-star Nationwide House Energy Rating Scheme (NatHERS) rating.

Claremont on the Park

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