Smith Street BTR Project
WA
A consortium of Tetris Capital and Community Housing Limited, has been selected by the Western Australian Housing Authority to undertake the redevelopment of the Smith Street site just outside of the Perth CBD.
The consortium is undertaking the redevelopment of the former public housing site into Western Australia's first public/private Build-to-Rent (BTR) project with ongoing tenancy and property management to be undertaken through a 52-year ground lease once complete.
The Smith Street BTR Project is being undertaken in three stages:
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Demolition and preparation of the site - completed July 2025
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Construction of the development - underway
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A ground lease for tenancy and operational management of the residential development.
The redevelopment of the site will deliver 109 new apartments in a mix of social housing and affordable rentals and will see the development of a new urban community close to major public transport hubs and local amenities.
This is a pilot project for Western Australian government under a Built-To-Rent lease model they wish to replicate on future sites. Tetris is at the helm of this transformation which addresses housing supply in partnership with government.
LOCATION
Smith Street, Highgate WA
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CLIENT
WA Housing Authority
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OUR ROLE
Development Lead
Financial Advisor
SPV / Asset Manager
Investor
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BUILDER
Perkins Builders
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ARCHITECTS
Architectus
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SERVICES CONTRACTOR
Community Housing Limited
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FINANCIAL CLOSE
2025
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COMPLETION DATE
Late 2027 (target)
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CONTRACT TYPE
Initially a Development Agreement, leading to a design, build, finance, operate and maintain arrangement.