The Terraces to take sustainable apartment development to new heights
The final apartment development to take shape at Claremont on the Park is set to establish a new benchmark for sustainable design, with Iris Residential expected to achieve the highest multi-residential project energy saving ratings seen to date in the Australian market.
Facing north across Claremont Oval from the southern boundary of the sought-after DevelopmentWA precinct, The Terraces will deliver 137 one, two and three-bedroom north-facing apartments.
Detailed construction plans have revealed The Terraces is on track to achieve an average Nationwide House Energy Rating Scheme (NatHERS) rating of 8.05 Stars across all apartments in the project, well in excess of the required minimum average standard of 6 Stars.
However, almost 30 per cent of the apartments within the development are set to achieve at least 9 Stars, with the best expected to achieve 9.7 Stars – a rating believed to be the highest recorded for a significant multi-residential development in Australia.
“The Terraces achieves an 8 Star Average NatHERS rating, which is 30 per cent higher than that required by the new national building standards, with some apartments as high as 9.7 Stars,” said Greg Billings, Associate Director Residential Sales and Marketing for selling agent Colliers WA.
“That equates to a best practice 35 per cent reduction in energy use in these residences and a 40 per cent reduction in internal lighting energy consumption, which is an outstanding outcome.
“Today’s buyers are very conscious of the environment and are increasingly attracted to developments that align with their sustainability goals – and of course the reduction in energy use translates to materially lower power bills, which adds to the appeal.”
More than 90 per cent of apartments at the Hassell-designed The Terraces will also enjoy true cross-ventilation, while a powerful 30kW Solar PV will be used to reduce common area energy consumption.
Colliers WA has also been appointed as Strata Manager for the project. Director Business Service Ali Qamar said the sustainable design of The Terraces and associated outcomes represented considerable ongoing value for owners.
“Being part of what is perceived as a ‘green building’ means apartments hold their value longer, and have a clear point of differentiation from others in the market over the long term,” he said.
“Energy efficiency can be realistically reported and measured over time, giving owners real visibility over the performance of their investment and the associated savings, and there are also opportunities to roll out further energy efficient initiatives as new technologies are introduced in the future.”
The Terraces will launch to market in February. Pre-launch interest has been strong from locals, with Iris Residential expecting to break ground on the project in mid-2022.
Prices at The Terraces are expected to start from $410,000 for a one- bedroom apartment, $660,000 for a two-bedroom apartment and $1.3 million for a three-bedroom apartment.