A new development in Brunswick is flipping the script on homeownership and giving hope to homebuyers who fear the property market continues to move away from them.
As home prices continue to soar and rental properties in Melbourne become increasingly scarce, finding somewhere to live both in the short term and long term has never been more difficult.
Believing every Australian deserves access to a well-designed home in a community they love, property developer Assemble has released their latest “purchase pathway” apartment project at 4 Ballarat Street, Brunswick.
Innovative purchase pathway: Addressing the housing crisis
Recognising something needed to be done to keep the great Australian dream of homeownership alive, Assemble got to work creating an innovative purchase pathway allowing people to rent their apartments before buying them if they choose.
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Assemble, known for its innovative and people-focussed approach to development, is launching in Brunswick.
Emma Telfer, chief operating officer at Assemble, says the purchase pathway was designed after years of overseas market research and local consultation.
“Residents living in our projects on our purchase pathway can secure the rent and purchase price of their homes for up to five years, with the option to buy their home at any stage at an agreed value.
“This gives them the stability and certainty they need to save, without the market running away from them,” Telfer says.
The need for housing security
Renters know all too well the uncertainty that comes with not knowing if their lease—typically six months or one year—is going to be renewed.
For those looking for longer-term housing security and the option to buy the apartment they’ve made a home, the purchase pathway provides them with more control over their living circumstances.
Designed by Fieldwork Architects with landscaping by Rush Wright, 4 Ballarat Street, Brunswick comprises 171 apartments, including studios and units with one, two or three bedrooms and one or two bathrooms.
Prime location in Brunswick
Located in the vibrant inner-city neighbourhood of Brunswick, just 5km from the Melbourne CBD and a stone’s throw from the iconic Sydney Road and Brunswick Baths, potential buyers can enjoy the rich and diverse community-focused lifestyle of the area.
“We built the project in a location which would connect to the culturally diverse neighbourhood, but also provide important transport links for our residents.
Fitting right into its eclectic Brunswick location, 4 Ballarat Street isn’t just talking the talk around community.
“We have learnt along the way that considered design has real impact—things like shared spaces for community to form, open-air walkways to ensure daylight and airflow, and materiality.
“All these support residents to make their apartments home for the long term,” Telfer says.
Sustainability and community at the core of design
The project celebrates the history and character of the original building, retaining its striking brick façade.
Each apartment features a spacious balcony that allows natural light to flood in, connecting indoor and outdoor living spaces seamlessly.
With sustainability a key part of Assemble’s ethos, all apartments run on 100% renewable energy to help reduce environmental impact and running costs.
The communal spaces are powered by 40kW solar panels on the roof, and the project is targeting a 7.5 NatHERS rating, ensuring a stable temperature year-round regardless of the climate. Additionally, the site features a bio-composter using microbial technology and heat to effectively reduce organic food waste.
This provides residents with a convenient, mess-free way to lessen their environmental footprint without the hassle of managing individual systems, fostering a community-focused sustainability culture.
This approach aligns with broader goals to curb urban waste and carbon emissions, while also making residents feel proud and positive about their role in creating a sustainable and friendly future.
Increasing Importance of Sustainability
According to REA-Group research, sustainability is increasingly becoming a key factor in homebuyers’ decision-making processes.
Buyers are seeking homes that are not only cost-effective in the long term but also allow them to feel good about their contribution to a greener future.
By adopting these practices, Assemble addresses these growing consumer preferences, making their developments more attractive to environmentally conscious buyers.
Residents don’t have to go it alone when it comes to sustainability.
Community-Focused Amenities
Community is a pillar of the building’s design.
Shared spaces include indoor and outdoor rooftop entertaining areas and gardens with views of the Melbourne skyline, ground floor workshops, a library, dog park, barbecue facilities, laundry, bike storage, electric vehicle charge point, and retail spaces.
By integrating sustainability and community-building practices, Assemble sets a new benchmark for development projects.
This approach also fosters community strength—an aspect that government research has identified as a key indicator of happiness and health.
Numerous studies show that strong, connected communities contribute to residents’ overall well-being and happiness.
Construction and availability
Construction is currently under way with 60 per cent of apartments allocated and the first residents due to move into their apartments in early 2025.
Purchase prices
- Floorplans for studios range from 48m² to 61m²
- one-bedroom apartments from 57m² to 97m²
- two bedrooms from 72m² to 156m²
- three bedrooms from 101m² to 152m².
Rents
Set rental prices start from $485 for a studio, $585 for one bedroom, $760 for two bedrooms and $1010 for three bedrooms.
Purchase options
Residents can choose to purchase their apartments from $500,000 for a studio, $600,000 for one bedroom, $785,000 for two bedrooms or $1.18 million for three bedrooms in the first year, with prices rising by a set value each year.
The homes are designed to feel welcoming and comforting from the get go.
Assemble’s proven track record
4 Ballarat Street is the fourth project of its kind by Assemble. Other projects include 122 Roseneath Street, Clifton Hill, 38 Albermarle Street, Kensington and 15 Thompson Street, Kensington.
The purchase pathway gives potential home buyers the opportunity to enter the property market without the uncertainties and risks associated with rising rents and purchase prices.
