One of Australia's largest operators of shopping centres is exploring whether it can build apartments on its shopping centres across the country.While the measure would unlock more stock for the state's affordable housing crisis, there are questions how effective it would be.One of the largest shopping centre operators in the country is looking at ways to build apartments on top of its properties.
"Our Westfield destinations are located in and around existing civic and transport hubs — places where densification is already occurring," he said. The Commonwealth passed build-to-rent legislation late last month, offering tax breaks to developers to encourage the building of 80,000 rental homes.Hornsby is expected to undergo major redevelopment in the coming years as part of the NSW Government's Transport Oriented Development program.Westfield Hornsby's potential height limits have been increased sixfold from eight to 53-storeys, with the state government hoping to add 6,000 new dwellings in the suburb's town centre.
"If it's a well-located shopping centre in terms of public transport, then it fulfils one of the most important requirements for the sort of build-to-rent model, which is trying to appeal to young adults," he said.