We are very excited to introduce Alt Living – a new property company that creates, owns and operates purpose-built homes for rent in Australia.
Over the past year, we have assembled a best-in-class team to enable Alt Living to deliver thoughtfully designed and professionally managed homes for rent.
We have also secured our first two projects in Melbourne CBD and South Melbourne, which will give us an initial footprint of 520 rental apartments to be constructed and completed in 2024.
Our aim is to build a network of properties across Australia, with each property being purpose-built solely with renters in mind. In doing so, we want to provide housing to a diverse group of residents and create vibrant communities within our buildings.
Furthermore, in establishing Alt Living, we have a blank canvas opportunity to build a business that is environmentally and socially minded from the onset, allowing us to embed impact-led strategies into our culture, buildings and communities from day one.
What are ‘homes for rent’?
‘Homes for rent’ is how we describe purpose-built rental apartments that are designed and managed purely for the modern-day renter. Using industry terms, what we do can be described as ‘build-to-rent’ or ‘multifamily’, however we’ve chosen to use homes for rent to help better explain our product to those that may be outside of the industry.
Our apartment sizes and configurations vary from studios to three-bedroom apartments, catering to a diverse group of people at different stages of life. We also offer some of our apartments furnished, with bills included, for those looking for a simple plug-in living solution.
In addition, each of our buildings include an array of shared amenity spaces for residents. This includes co-working spaces, gyms and outdoor terraces, as well as bookable spaces such as cinemas, master kitchens and private dining rooms.
Where are Alt Living’s projects located and when will they be open?
At present, we have two projects that will soon commence construction in Melbourne:
Both projects are being purpose-built from the ground-up and we expect completion by late 2024. We’re hoping to announce additional projects in Sydney and other major cities soon.
So why launch Alt Living now?
We believe that the time is right to build a new-age property company that is focused purely on the renter and improving the rental journey.
As Australia continues to grapple with rising residential property prices, paired with little to no income growth, we’re seeing homeownership becoming out of reach for many people. This is causing more Australians to delay buying their first home, or abandoning the decision altogether in favour of a flexible and asset-light lifestyle.
Ultimately, this means there are more Australians looking to rent – and for longer, which is where Alt Living comes in.
What role will Alt Living play?
Alt Living is vertically integrated, whereby our business is involved in every step of the design, development and operational process. This allows us to maintain absolute control over how our projects are designed and delivered, while also giving us the ability to continuously optimise our buildings using data and previous project experience.
We believe that by combining thoughtful design, professional management and the latest in property technology, Alt Living can reimagine residential property and the resident experience for renters.
Who is behind Alt Living?
Alt Living is led by a team of entrepreneurs, property professionals and operational specialists. Collectively, the Alt Living team have transacted over $2 billion in real estate projects and delivered more than 2,000 residential apartments across Australia.
Alt Living’s executive management includes:
– Kevin Li, Executive Chairman
– Chrystan Paul, CEO
– Kim Pham, CFO
– Kevin Said, Head of Capital
– Toby Pope, Head of Development
Stay tuned, as we’re just getting started and look forward to bringing you along for the journey!« Back To News