New $280m build-to-rent and retail community for Meadowbank

Build-to-rent Investment Manager apt.Residential has launched a $280 million mixed-use build-to-rent (BTR) precinct in Sydney’s Meadowbank, the first project in its partnership with Dutch pension fund investor PGGM.

With a pre-approved development application, the project, apt.Meadowbank, will comprise a range of 291 studio, one-, two-, and three-bedroom apartments over four low-rise buildings. The project will also include over 4,000 sqm of street-facing retail and hospitality amenity, as well as tree canopy to add vibrancy to the existing landscape. The destination will become the new vibrant retail hub for Meadowbank.

At 1 Railway Road, Meadowbank, apt.Meadowbank will offer a range of fully furnished and unfurnished apartments for long-term renters, providing much-needed supply to Sydney’s tight rental market. 

Well positioned between three major employment hubs with excellent public transport connectivity including train, bus, and ferry at the door, Meadowbank is an in-demand locale, especially for young professionals, families, and mature students. The suburb’s residential vacancy rate sits at a six-year low at just 2%, mirroring the state of broader Sydney where rental housing supply is far from meeting demand.

Apt.Residential Managing Director Matt Carolan says, “The project will make a valuable contribution to much needed rental apartment supply, helping to bring well-considered vibrant community living to the inner north-west suburb of Sydney. 

"We are looking forward to delivering on a new way for people and families to live.

“The current rental housing affordability crisis is expected to increase in the short to medium term, as many renters continue to struggle to access quality rental housing that they need,” continues Carolan.

“This project is our first step in a long-term vision to add necessary rental supply to the market, tailored to the needs of renters. 

"That includes creating projects in employment and education hubs, developing convenient community amenity, and providing turnkey solutions that serve those with more transient housing needs. 

"This will reduce up-front costs for renters, allowing them to focus on quality and location.”

“Apt. Meadowbank has been created with the modern resident in mind. 

"We are creating a highly desirable destination that will have a vibrant retail precinct, access to apt.’s shared electric vehicles, co-working areas, resident lounge, activated rooftops, and other amenities. 

"Apt.Meadowbank will be a multifunctional hub that caters to the needs of the community and adds to Meadowbank’s cultural fabric.

“We’re proud Meadowbank will be the location of our first landmark project.

"Meadowbank is the perfect place for us to deliver much-needed housing, retail, and hospitality amenity, and we look forward to bringing all of this and more to the suburb’s effervescent and diverse community.” 

Demolition has commenced on site for apt.Meadowbank, with the project due for completion in Q4 2026. 

The project is the first of several upcoming build-to-rent projects apt.Residential is developing with PGGM as part of their initial $1.5BN partnership.

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