SINGAPORE (EDGEPROP) - Frasers Property Australia has won the bid to participate in the Queensland government’s build-to-tent (BTR) pilot project, which is targeted as an affordable housing option for key workers in Brisbane.

Frasers Property will develop 354 apartments on a 2,020 sq m (21,740 sq ft) site at 210 Brunswick Street, Fortitude Valley. Upon completion, the developer will own and operate the development, which spans across 25 storeys and comprises 42 studio units, 188 one-bedroom and 124 two-bedroom apartments.

The Queensland government will subsidise the rental of 144 of the apartments, by 25%. The other 210 apartments in the building will be offered at market rental. All the apartments will enjoy the same high standards of finish and amenity access, says the developer.

Construction on the development will commence in mid-2021, and is expected to be completed by end-2024. Leasing opportunities for residents will open just before that.