Jul 12, 2026 – 9.00amA new privately funded build-to-rent development in Melbourne’s eastern suburbs includes 33 affordable units that it has made available to qualifying tenants, mostly single women aged over 50, at below-market rates without requiring a public subsidy.Developer Local’s 425-unit Box Hill project was able to offer the apartments at a 25.1 per cent discount to market rates through community housing provider Storey Residential through measures including lower taxes and a lower bank interest rate, Local co-founder Dan McLennan said.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles