A global build-to-rent round up

Australia & New Zealand

• Australia: The Victorian Government has unveiled tax exemptions set to positively impact the build-to-rent sector. It has announced that build-to-rent projects completed and operational before 2032 will be exempt from absentee owners’ tax on units where the owner did not reside and receive a 50% discount on land tax for up to 30 years. According to the Property Council of Australia, having certainty on this tax policy is likely to prompt the development of 6,500 units currently in the pipeline in the state. 
  Full article here

Europe

• UK: Build-to-rent apartments are being planned as part of a redevelopment proposal for the former Toys R Us site in Southampton. Developer, Packaged Living has indicated 600 build-to-rent flats are planned along with retail, an office block and could also feature a hotel. 
  Full article here
• UK: A collective of architects and designers have repurposed two heritage listed Victorian shipping warehouses into a build-to-rent offering with 58 loft style apartments with access to onsite amenities in Manchester. The development is part of the wider Kampus development and amenities include a gym, yoga studio and cinema. 
  Full article here
• UK: Moda Living has announced plans to expand its build-to-rent business into the co-living sector. Moda Living has set up a new business arm with a £1B development pipeline totalling 2,600 homes and plans to deliver 1,000 per year. 
  Full article here
• UK: US multifamily real estate investment and management Cortland has acquired UK-based Qdime Group who have over 30,000 residential rental units under management. Cortland owns and operated almost 70,000 rental units in the US. 
  Full article here
• UK: US real estate company Common, announced it plans to expand its operations into the UK and open and operate at least 3,000 rental apartments by 2023. Common is a leading residential brand that designs, leases, and manages both build-to-rent and co-living type properties in the US. 
  Full article here
• Ireland: Quintain has announced it will invest €500M to create a new urban village in Adamstown, Dublin. The first phase, called The Crossings includes 279 build-to-rent units and space for two supermarkets, one already pre-leased to Tesco. A second stage will include a further 185 apartments. 
  Full article here

North America

• Canada: Vancouver-based rental housing developer Rize Alliance has created a new division with the purpose of fulling specific rental housing demand in metro Vancouver and in its growth market of Los Angeles. Comma Properties will focus on building communities and will adopt the co-living model for some of its projects. 
  Full article here
• US: Los Angeles start-ups are using co-living principles and creative energy to foster entrepreneurship. Multiple start-ups in the area have developed full-time residency opportunities for people to live together and collaborate on projects largely focussed in the tech sector. 
  Full article here

Thought Leadership

• Successful build-to-rent developments in overseas markets work to build a community where residents feel valued and appreciated. This increases the chances of residents renewing leases and staying longer which increases the profitability of these developments. 
  Ideas on how to do this are in this article