30.06.2020Addressing Melbourne’s Housing Affordability

Through these uncertain times presented by COVID-19, innovative property development and community management company, Assemble, has forged ahead with its highly anticipated Assemble Model project, 15 Thompson Street, Kensington.

Featuring 198 apartments across two mixed-residential buildings, 15 Thompson Street will welcome a vibrant urban community, comprising studio, one, two and three-bedroom floorplans. Assemble is targeting a 7.5-star average NatHERS rating for the project.

This is Assemble’s second ‘rent-with-the-option-to-buy’ project under the Assemble Model with the first project – 393 Macaulay Road, Kensington – currently under construction.

At 15 Thompson Street, residents will enjoy a thoughtfully designed apartment with open breezeways and vertical gardens that connect each home with sunlight and crossflow ventilation. Living spaces are designed for durability, functionality, and longevity, with high-quality fixtures and fittings.

The development will encourage neighbourly connections with ground floor communal rooms off the pocket park, offering a tranquil setting for residents to enjoy activities such as yoga followed by a coffee from Assemble’s dedicated hospitality area. The significant rooftop will feature a barbeque, woodfire pizza oven, and communal play and sporting facilities.

Residents will have ultimate convenience with a parcel delivery cool room, a workshop for messy jobs, a ‘lending library’ stocked with useful tools and equipment, and parking for more than 400 bikes.

Assemble Managing Director, Kris Daff said the project has been popular with potential future residents who are seeking access to secure yet affordable housing.

“In these unprecedented times, housing security is top-of-mind for many Australians and that places even more importance on our model, which has been purpose-built to provide residents and homeowners affordable, accessible housing,” said Mr Daff.

Flexibility is the key point of difference as residents begin their experience as tenants on a five-year lease, after which time they have the option to buy their home at a pre-agreed price. Assemble tenants also enjoy secure, long-term rental agreements on a pre-agreed pricing structure.

The Assemble Model offers ‘rent-with-the-option-to-buy’ projects – an innovative approach to homeownership that unlocks access to design-driven, community-oriented apartment living while addressing Melbourne’s severe lack of affordability and security.

Through the model, the need for prohibitive up-front cash deposits are negated by offering residents with stable rental, ample time to enjoy their home, all while working towards a savings goal. Residents can then decide if it is the right financial and lifestyle choice before buying into the project.

Mr Daff said that despite the challenges currently presented in the property market for buyers, the development has received unprecedented interest.

“We have a highly engaged following of our unique housing model and have already received daily applications from first home buyers, individuals and families that want to be part of a sustainable and connected community.”

“Our focus on affordability allows people with household incomes of $60,000 and above a foothold in the property market,” added Mr Daff.

Future residents will also have access to Assemble’s unique complimentary financial coaching throughout their tenancy to help them achieve savings goals and assist with buying their apartment at the end of the five-year lease period, should they wish to do so.

Applications will close by 31 May 2020 with the ballot selections to be announced soon after.

For more information visit: www.assemble15thompson.com.au

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