The Subiaco build-to-rent development is reaffirming its carbon neutrality after becoming the nation’s first carbon neutral apartment building last year.
Sentinel Real Estate’s Subiaco Element 27 project has regained its carbon neutral status, as it commits to building the third phase of the development in the coming year.
Element27, which comprises 264 apartments over three stages, was the first build-to-rent development in Australia.
The Subiaco project gained carbon neutral certification, via the Federal Government program Climate Active, last year.
US-based real estate fund Sentinel has built the first two stages of the project, with the third phase has been anticipated to begin before the end of the year, but today the company said the build would start “in the coming year”.
The development includes EV charging stations, a 30-kilowatt photovoltaic system for common area energy use, a rainwater and grey-water recycling system, speciality waste streams, a centralised geothermal system as well as a high energy rating.
Sentinel Real Estate managing director in Australia Keith Lucas said Element 27 had “created a critical pathway that will allow more residential buildings to target ongoing carbon neutral operations”.
“As our build-to-rent pipeline expands across Australia, we remain committed to pursuing industry leading sustainability targets and helping set new benchmarks for energy performance in the housing sector,” he said.
The build-to-rent model, which focuses on long-term investment due to its structure of having one institutional owner through a building’s life, has been praised for its sustainability approach.
Sentinel Real Estate also runs a Melbourne build-to-rent project, where it takes a similar approach.
Globally, the company runs $13.6 billion of real estate assets under management.
As it achieved carbon neutral recertification, state Environment Minister Reece Whitby said the group’s leading sustainability strategies could pave the way for future residential developments.
“It’s great to see Sentinel’s commitment to smart housing choices, and we’d love to see more developers taking up greener solutions in the future,” he said.
Sentinel Real Estate also plans to develop an apartment project at 194 West Coast Highway.
