The first purpose-built student accommodation project by the Brookfield and Citiplan joint venture has completed in Melbourne’s CBD.
International contractor Multiplex has wound up construction on the 452-bed, 15-storey project, dubbed Journal Campus House, at the corner of Bouverie and Grattan streets, Carlton, opposite the University of Melbourne’s Parkville campus.
Jackson Clement Burrows Architects designed the project of 365 single and multi-occupant rooms and two retail tenancies on the ground floor.
There is an open entertainment area, lounge and library on the ground floor and quiet study areas on the first, second and third floors.
A courtyard, gym, games and music rooms, kitchen and dining area are on the basement level with communal terraces on the third and 15th floors.
Queen Victoria Market, Lygon Street, the CBD and Melbourne Central are within walking distance of the building.
The PBSA asset will be managed by Journal Student Living, owned by Brookfield Asset Management and Citiplan.
Brookfield Australia real estate co-head Ruban Kaneshamoorthy said demand for PBSA remained high.
“We see ongoing demand for these sorts of facilities, particularly on the eastern seaboard, which is driving the development of our PBSA portfolio,” Kaneshamoorthy said.
Construction took 19 months and finished nearly three months ahead of schedule with prefabricated solutions used.
These included modular bathroom pods, risers and precast.
The heritage property at 160-170 Bouverie Street was also incorporated into the final design.
Multiplex has previously taken on similar projects for La Trobe University and Monash University.
Meanwhile, just south of the Melbourne CBD at South Yarra, international build-to-rent player Greystar has opened its newest asset, Haiku Claremont.
Haiku Claremont is Greystar’s second Australian property under the Haiku build-to-rent brand.
The project has 235 fully furnished apartments with onsite amenities including private lounges, a rooftop bar, gaming spaces, a cinema, co-working and wellness facilities.
“Australian renters today expect more than just a place to live; they want to feel a sense of belonging and community within their building,” Greystar Australia managing director Matt Woodland said.
Claremont is one of two towers on the same site at 35 Claremont Street, South Yarra, with the next tower, The Yarra, opening in August 2025.
Greystar’s first Australian asset, The Gladstone at South Melbourne, the largest build-to-rent project in Australia with 900 apartments across three towers, will be brought under the Haiku brand as well.
The developer has 935 apartments completed, 1015 apartments under construction and another 609 apartments in the planning process in its build-to-rent and student accommodation portfolio in Australia.
It manages and operates $320 billion of real estate in almost 250 markets globally, which includes more than a million units globally.
