Novus Plots 250-Home BtR Tower at North Melbourne

Novus is planning its latest project in the Victorian capital, filing a proposal for a 250 build-to-rent apartments at North Melbourne to replace industrial buildings in an inner-city renewal precinct. 

The build-to-rent specialist is planning the development at 53-65 Munster Terrace and 110-124 Laurens Street, 100m from the new Arden Metro and railway station and 2km from the Melbourne CBD. 

The $110-million plans filed with the Victorian Department for Transport and Planning detail a podium setback from Queensberry Street that  “prioritises engagement with the public realm” and accommodates further landscaping and upgrades.

The lower ground floor of Novus on Laurens would have a “bike cafe”, bicycle and car parking, with middle ground-floor apartments. 

The upper ground level would have a lobby, lounge and cafe, as well as coworking space, with potential for future retail, and 155sq m of resident amenities and 433sq m communal open space.

The remaining levels of the 24-storey tower would consist of build-to-rent apartments. 

Teaming up again with architects Rothelowman, the project “pays homage to the form and industrial heritage of its surroundings” including the Weston Milling Silos, some of which date from the late 1800s. 

▲ A rendering of the Novus on Laurens proposal at North Melbourne.

It would replace the existing low-scale industrial buildings on site. 

Novus co-founder and chief development officer Jason Goldsworthy said that Novus on Laurens “presents a unique opportunity to create a landmark corner build-to-rent site in the heart of the Arden Urban Renewal Precinct; delivered ahead of the proposed Arden Central Masterplan”.

“The site’s superior corner location, centred amongst the precinct, will catalyse and anchor the revitalisation of the major urban renewal area and the use of Arden Station as a key hub in this generational infrastructure project,” Goldsworthy said.

It includes affordable housing units, community space in partnership with Creative Melbourne and the widening of the Queenbury Street verge, he said. 

“Pending approval, Novus on Laurens would be delivered in 2029, offering residents a quick two-minute walk from home to the Arden Metro Station,” Goldsworthy said.

The site is within the proposed area of the Arden precinct, an urban renewal project being spearheaded by Development Victoria and the Department of Transport and Planning, and centred around the new Arden Metro station, which will have a new “civic heart” as well as 3500 homes, open spaces and community facilities.

Delivered in partnership with the private sector, a competition for the master developer for Arden Central is under way, with Hamton Group and Hostplus currently competing against Lendlease and Assemble, with the successful proposal to be announced in 2026. 

▲ The site proposed for Novus on Laurens is within the Arden precinct urban renewal area.

Novus’s application said that the site “presents a significant and unique opportunity to contribute meaningfully to the outcomes envisioned for the Arden Precinct”. 

Up to 20,000 people are expected to make Arden their home by 2051.

Novus’s project pipeline has been prolific in recent years, bringing its build-to-rent model to Melbourne and Sydney. 

It was recently approved by the NSW Independent Planning Commission for its 46-storey Novus on Victoria project at Chatswood, having also been approved last year for its Novus on Albert development, also on Sydney’s North Shore.