Build-to-Rent Towers Planned for Emerald City

Gazcorp wants to add a build-to-rent component to its Emerald City development with a $133-million application for the inner Sydney site.

The Sydney-based investment firm wants to build two 20-storey towers above a shared podium at 296-298 Botany Road and 284 Wyndham Street, Alexandria.

The design by SJB architects creates 258 apartments, a two-storey car park and 4656sq m of office space, with cascading greenery by Taylor Brammer.

This builds on the previously approved podium with 7318sq m of retail space, mainly a supermarket, and a 202-space car park, also called Emerald City.

The tower addition includes communal space on level seven with a 20m lap pool, deck, spa and outdoor dining rooms.

“Both towers have deep facades with solid concrete upstands and gardens help to provide acoustic and visual privacy to surrounding buildings, as well as maximise solar access into the residential apartments,” according to the development application.

“The facades also feature vertical planting and balcony gardens to create an inner-city ecosystem of plants and trees within Green Square.”

The 9140sq m site, which also has frontage on Bourke Road, is currently occupied by older industrial buildings and is next to the future Green Square Town Centre precinct, anchored by Landcom and Mirvac.

The build-to-rent sector has been gaining traction during the past year, with the NSW government giving a 50 per cent land tax discount for these developments.

One of the most recent approvals was given to Canadian giant Oxford Properties for its 39-storey Pitt Street Metro tower.