Image: HOME Southbank by Grocon
Icon is the preferred builder for a $400 million government contract to construct three build-to-rent commercial communities in Melbourne.
The builder joins a consortium including Qualitas, Tetris Capital and CHL, which beat out two other shortlisted consortia with Kane Constructions and Watpac as builders.
Three build-to-rent developments with around 1,000 dwellings will be constructed on government land in Brighton, Prahran and Flemington, redeveloping and sitting alongside existing public housing estates.
The project is part of a state government initiative to ease the burden of securing long-term rentals and improve housing affordability.
Icon’s involvement in the project is reflective of the company’s commitment to building high-end residential communities.
The Tier 1 builder is currently delivering Grocon’s first Home Residential build-to-rent complex on City Road in Southbank, a 61-storey residential tower.
It is also expected that Icon will compete for a build-to-rent development by Assemble Communities in Kensington with plans to create 400 dwellings.
Icon’s involvement with the state government recently includes securing the contract for the $90 million Bendigo GovHub in a joint venture alongside Fairbrother.
The Tier 1 builder’s involvement in the project also reflects the company’s effort to diversify its pipeline, with the appointment of Daniel Crawley as State Manager for Victoria also highlighting a strengthened focus on public-interest projects such as healthcare sector builds.
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