Assemble launch second Kensington apartment block where you can rent before you buy

Thousands of people have joined the waiting list for a unique apartment complex in Melbourne’s north where people rent first and buy later. It’s so popular, a second project has been launched — here’s how you sign up.

An artist’s impression of the Assemble apartments at 393 Macaulay Rd, Kensington.

People will be able to try before they buy under an Australia-first apartment model planned for Kensington.

And “key workers” such as nurses and teachers will be given first dibs.

Property developer Assemble will build an eight-storey apartment building at the site of a former cassette tape factory at 393 Macaulay Rd.

It also has plans for a mixed-use development at 15 Thompson St.

Both projects will allow occupants to rent an apartment before buying.

The Macaulay Rd project will include a mix of 73 studio, one, two and three-bedroom homes.

The Thompson St project is still in its infancy but is expected to include up to 200 apartments and ground floor retail space.

Assemble also has plans for homes in Melbourne’s southeast.

An artist’s impression of a kitchen at the 393 Macaulay Rd, Kensington building.

Under the model, residents sign onto a five-year lease and have the right to acquire the property at an agreed valuation when it ends.

The project is an alternative housing model designed to bridge the gap between renting and owning.

More than 3200 people have registered interest in the Macaulay Rd complex and there’s now a waiting list.

A number of apartments at the site will be set aside for “key workers” such as nurses and educatorsin the next few months.

An artist’s impression of the walkway at 393 Macaulay Rd, Kensington.

Melbourne City councillor Beverley Pinder joined Assemble managing director Kris Daff at a demolition party for the former tape factory on August 10.

Cr Pinder said the Assemble model would help address the challenge of affordable housing.

“What this team proposes is housing stability for those on moderate incomes,” she said.

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Mr Daff said he had been overwhelmed by the amount of interest in the project.

“(This) reinforces our belief in creating alternative pathways to home ownership,” he said.

The complex will retain and restore the facade of the original heritage building, designed by Art Deco architect Harry A. Norris.

People are expected to move in early 2021.

Join the list for the Thompson St building here.