Edify Australia—a new kid on the far northern NSW block—is breaking into the growing build-to-rent sector with a 34-apartment, eight-storey shoptop development in Tweed Heads.
Edify has lodged plans with the Tweed Shire Council for a mix of apartments on a largely vacant 1244sq m block at 151 Wharf Street.
Director Luke Williams, who until now has operated in Melbourne, acquired the site for an undisclosed sum a month ago, complete with development approvals for a three-storey medical centre and another for a five-level office building.
However, the developer has ignored the approvals and is seeking a build-to-rent development with a single-level basement and ground-floor commercial, including a cafe and office space.
The BDA Architecture-designed building will include a rooftop terrace with swimming pool, sundeck, and dining facilities.
Construction costs are estimated at $25.9 million.
The 30.5m-high building will include six single-bedroom, 21 two-bedroom and seven three-bedroom apartments. Parking is planned for 46 vehicles.
Peter Antony of DJ Stringer Property Services, who brokered the Wharf Street sale, said the Tweed region’s growing population had led to a real demand for the build-to-rent sector.
“The change that’s happening is phenomenal,” he said.
“We had a major increase in population in the Tweed Shire and Northern Rivers region during Covid. Kingscliff, Cabarita, Casuarina, Banora Point, Tweed ... everybody moved up here for the lifestyle.”
In fact, the Tweed Shire Council forecasts that in the 20 years to 2041, the shire’s population will increase by 34,338, or about 35 per cent. The average annual change will be about 1.52 per cent.
Zone Planning Group, which lodged the planning documents, said environmental sustainability was at the forefront, including a passive design that minimised the need for mechanical heating and cooling systems.
The building would use low-carbon materials to cut environmental impact plus it would be equipped with energy-saving features—solar panels for power and a system to collect and reuse rainwater, Zone Planning said.
Williams set up Edify after moving to Noosa about 12 months ago. In Melbourne his family-owned company had dealt in high-end residential development in Flinders, Sorrento and Portsea.
