CBD build-to-rent project gains govt backing

A new Perth CBD apartment tower which will bring more than 100 affordable rentals onto the market has attracted $130 million in state and federal government support.

Prime Minister Anthony Albanese and WA Premier Roger Cook will today reveal the funding package for the 219-unit Pier Street complex revealed in January this year.

Some 66 of those units will be used for social housing and a further 44 will be set at an affordable price.

WA Housing Minister John Carey said the project would give key workers and vulnerable Western Australians a place to call home.

“Housing Choices Australia and Super Housing Partnerships have been selected as the preferred consortium to purchase the building on completion and to provide tenancy management to support the most vulnerable members of the community,” Mr Carey said.

“This important project will also see the development of a new urban community close to major public transport hubs and local amenities - bringing more activity, vibrancy and importantly more housing diversity right here in Perth.”

The federal government will tip $88.6 million into the project and state government will contribute $40.6 million.

The Pier Street project is the state’s second build-to-rent project, following the Smith Street project in Highgate which was announced in December.

The Hassell-designed Pier Street apartment is due to break ground mid-2024.