84,000 Melbourne students without a place to stay? Not if Scape Living Student Accommodation has anything to say about it.
The Australia/UK real estate conglomerate with a passion for trendy student residences has just proposed a plan for the tallest student-housing skyscraper ever to grace the city CBD—or anywhere else for that matter. If accepted by the government, the project will have the distinction of being the tallest student-specific apartment complex on the planet.
has earmarked a 2,000 sq m site on Franklin Street for the development, which will
serve as a pioneering example of Australia’s up-and-coming “build-to-rent”
investment initiative. Primarily a facility for students, the 60-storey project
will cost a reported $300 million plus to complete and will supposedly include
accommodations for 740 student beds, 146 city living units for urban-minded
apartment dwellers and approximately 11,500 sq m’s worth of commercial and/or
academic space. The location, just minutes from RMIT, will likely be a major
draw, as will Scape’s trademark expansive kitchens and speedy Wi-Fi.
this Scape development may cast the company’s longest shadow, it’s far from the
only project the organisation has in the works within Melbourne CBD. Several
other plans are in preparation as part of a growing Melbourne portfolio that
may reach $1 billion in value. On nearby Swanston Street, for example, one 870-student-bed
structure is under consideration while a 780-bed complex is being built as we
Australia’s current economic profile, Scape Living Student Accommodation boasts
Chinese investors—contributors include China’s ICBC International as well as
the Dutch-based Bouwinvest. With shareholders like these, Scape clearly hopes
to give other student real estate bigwigs like Blue Sky and GSA a run for their