Hesperia plans $100m BTR apartments

Hesperia has lodged a proposal for a twin tower development containing social and affordable housing in Murdoch, in a bid to provide housing to essential workers within the medical precinct.

The Adrian Fini and Ben Lisle-led developer has paired with Foundation Housing to devise a $100 million mixed-use development comprising 216 build-to-rent apartments in a 24-storey tower.

Additionally, Hesperia plans to construct a 13-storey commercial building on the site.

The proposal is mooted for corner of Barry Marshall Parade and Fiona Wood Road, which is part of DevelopmentWA’s Murdoch Health and Knowledge Precinct.

The 24-storey building is set to include 151 affordable housing units and 65 social housing units.

In a statement today, Hesperia said the proposal development would “deliver essential affordable housing options for the future Murdoch Health and Knowledge Precinct workforce”, including nurses, health support roles and education staff.

It said the joint development approach would ensure “greater efficiency in successfully delivering both these significant developments in a timely way”.

Hesperia Managing Director Ben Lisle said the Foundation Housing partnership would help deliver much-needed affordable and social housing, which Hesperia sees as an area of significant need for the state.

“Having a number of active projects within the Murdoch Health and Knowledge Precinct, we are keenly aware of the importance to be able to accommodate key workers for the health and education sectors close to their places of work,” he said.

Hesperia will act as development manager for the Foundation Housing tower, and the two structures are set to be joined via a five-storey podium.

Foundation Housing chief executive Chris Smith emphasised the project’s significance for the organisation and its customers.

"At the current time, affordable and social housing in the Murdoch area is limited, however the local workforce will grow significantly from 2024 onwards, meaning more demand for affordable housing,” he said.

“We are very pleased this project will make a real contribution to providing new housing to people who have been struggling to find appropriate accommodation in Perth.

“This project is the largest undertaken by Foundation Housing and will help underpin future developments in the metropolitan area that will provide more accommodation for key workers and people on the social housing list.”

Foundation Housing will seek federal government backing to fund part of the development, via the Housing Australia Future Fund, and is expected to work with the Department of Communities on the social and affordable component.

The proposal will be considered at a Metro Inner joint development assessment panel meeting later this year.

If it is approved, Hesperia anticipates the build-to-rent component will be complete by 2026, with timing of the commercial tower yet to be determined.

Hesperia recently lodged a plan for a four-storey orthopaedic hospital in the precinct, valued at $68.7 million.