Accor expands into rental housing
Freecity has teamed with Accor, bringing the serviced-apartment operator into a pipeline of build-to-rent, co-living and student accommodation projects.
Under a white-label agreement, Accor will manage leasing, marketing, building operations, resident services, community programming and amenity operations across selected projects.
It marks a move into purpose-built rental housing.
Freecity has three purpose-built student accommodation projects under construction in Sydney, totalling 763 units.
In Macquarie Park, 528 units are expected at 169-171 Herring Road.
Forest Lodge and Rockdale projects are in Arundel Street and at 23-25 Frederick St respectively.
Freecity is using volumetric modular construction across its pipeline, with modular components manufactured offsite before being assembled on development sites.
Freecity boosting BTR portfolio
Freecity is also progressing Sydney build-to-rent and co-living projects.
At Rouse Hill, it has approval for a project comprising 332 BTR apartments and 216 co-living studios across three residential towers, between 11-23 levels.
In Parramatta, Freecity is also progressing a BTR project at 81-83 George St and 1 Barrack Lane.
A neigbouring site at 87-91 George St is planned for an approximately 71-storey BTR and co-living tower following a redesign of an earlier office scheme (continues below).
Freecity says the project is expected to be the world’s largest volumetric modular construction (VMC) building.
The developer also recently secured approval for a 51-storey mixed-use residential and hotel tower at 153-157 Walker St, North Sydney.
Its broader pipeline includes a proposed mixed-use precinct at Sydney Olympic Park, where it is progressing a development application for a 2.2 hectare site near the town centre – acquired from GPT last year.
The proposal is expected to include retail, a community centre, hotel, build-to-sell housing and BTR accommodation.
Under the white-label arrangement, the developments will be operated through Freecity’s consumer-facing brand, with bookings and reservations made through its website.
Accor Pacific chief operating officer Adrian Williams said the company’s experience operating extended-stay properties provided a base for its move into the living sector.
“As the leading operator of serviced apartments in the Pacific region with more than 125 extended stay properties, expanding into the living sector is a natural and highly strategic evolution for Accor,” according to the executive.
Freecity founder Jerry Huang added the partnership would combine the developer’s construction approach with Accor’s hospitality expertise.
“We believe the next generation of housing should combine the efficiency of advanced manufacturing with the service and experience of great hospitality. This partnership with Accor is an important step towards that vision – creating places that are built differently and lived in differently,” he said.
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