Sky Garden: Build-To-Rent 10-Storey Tower Proposed at Stones Corner

Sky Garden
Photo Credit: PD Online/Brisbane City Council

A development proposal for a build-to-rent 10-storey mixed use residential tower at 34 Stones Corner, Greenslopes, has been lodged with the Council. Called Sky Garden, this project envisions a “high-quality boutique offering” where residents could have short or long-term rental arrangements. 

Mewing Planning Consultants filed the development application (DA A005625473) just before Christmas and it’s currently undergoing an assessment with the Council.  

Sky Garden will be located near the Stones Corner Busway station, next to a few retail and office buildings. If completed, the residential sections will have 56 units and a communal rooftop recreation space, whilst the ground floor will be open for retail tenancy.

The property will adopt a rarely applied concept in Queensland: build-to-rent. This means that the building’s owner, Propertyprojects Q, will only rent out the dwellings instead of building the units to sell.

Photo Credit: PD Online/Brisbane City Council
Photo Credit: PD Online/Brisbane City Council

The concept implies that rental rates will be below average for a Stones corner site. According to Mewing Planning Consultants, the building’s planned design will help reduce maintenance and operating costs. 

Sky Garden has been designed with “young professionals, students, key workers, visiting professionals and temporary business visitors” in mind who would be keener to take public transport or have a more environmentally sustainable way to get around Brisbane. Thus, the project has only 41 proposed parking slots for both renters and their visitors, as well as 42 bicycle slots.

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Two other sites in Brisbane will adopt a build-to-rent scheme for affordable large-scale housing projects in Fortitude Valley and Newstead. These projects, announced in October 2020, will deliver a total of 750 apartments and 240 dwellings at discounted rental rates.

“Build-to-Rent will provide secure, long-term rental accommodation for tenants who don’t necessarily qualify for access to social housing, but may struggle to live close to where they work,” Minister for Education and Member for McConnel Grace Grace said.  “We will meet part of the rent cost for the affordable homes to allow a discounted market rate to be offered to eligible tenants like health and emergency service workers.”