The former Athletes Village is set to transform into a buzzing build-to-rent residential community
In the wake of huge event, it’s easy to forget about all of the purpose-built infrastructure that was created and what will become of it. The Gold Coast 2018 Commonwealth Games saw a prime piece of real estate in Southport transformed into the Athletes Village, but what is happening to the space now? Something pretty darn exciting, it turns out – in an Australian first, the site will become home to a revolutionary long-term-rental residential community called Smith Collective.
Following the popular build-to-rent strategy that has taken off in America and Europe, Smith Collective will see a stunning $550-million residential and retail hub be created and redeveloped from the existing infrastructure of the former Athletes Village. In case you missed it during the Games, the site is situated in the heart of the Gold Coast Health and Knowledge Precinct, which is home to Griffith University and the Gold Coast University Hospital. This particular model redefines the traditional rental process that we are familiar with in Australia, mainly by foregoing landlords and putting residents in power to secure a long-term lease. Tenants are given all of the perks of home ownership minus the strain of a mortgage – and as anyone who has traversed the rental market can tell you, finding a spot where you can put hooks in the walls and have pets is like winning the jackpot.
The Smith Collective offering will combine residential and retail to create a blended community unlike anything that the coast has. The hotel-style accommodation that hosted the athletes has been replaced by 18 apartment towers, 82 two-storey townhouses and a 6280-sqm retail hub, with works on track to be completed in December this year. The dining and retail hub will incorporate a curated selection of boutique stores and eateries as well as the essentials like Woolworths and BWS. The public will be privy to a sneak peek of all of the goodness on Friday October 26 when the precinct comes alive for a Friday Night Bites activation, and again on Saturday October 27 for a family open day.
If the Smith Collective lifestyle has got you intrigued, you can check out some more specifics and register your interest over at the official website.