Cadre Wins Approval for $48m ‘Modest’ Richmond BtR Scheme

A sculptural glass office tower once approved for a Melbourne inner-east site will become a long-term rental scheme anchored by wellbeing, community connection and boutique scale Cadre has received unanimous planning approval from Yarra City Council for Swan House, a $48-million rental apartment project in Richmond, comprising 51 apartments across seven storeys. The project site is at 439–443 Swan Street, 4km southeast of the Melbourne CBD. It was approved in May 2026 and will deliver studio, one, two and three-bedroom apartments purpose-built for long-term rental tenure. At ground level, retail space will activate the streetscape, with Cadre targeting tenants in the wellbeing, health and food-and-beverage sectors. Resident amenity will include a rooftop terrace with an outdoor kitchen, gym, sauna, outdoor yoga spaces, edible gardens and communal dining areas. The Bruce Henderson Architects-designed Swan House is on a site that was originally permitted for a seven-storey commercial office building with a sculptural glazed curtain wall facade. When the office market deteriorated, Cadre co-founder and director Chris Tyas reconsidered the development direction. “It was almost commercial suicide to persist with the office,” Tyas told The Urban Developer . “We converted it and created something of benefit.” ▲ The 51-apartment design prioritises resident connection over scale, which Tyas said was deliberate—and replicable. The scheme is modest by institutional build-to-rent standards. Where large-scale build-to-rent buildings can house hundreds of residents, Swan House would comprise 51 apartments, a size Tyas said created conditions for genuine community connection that larger schemes rarely achieved. “You get a big hotel with 300 people and it’s just too much,” Tyas said. “A smaller, boutique, more intimate experience is what we’re going for. People want to pay for that intimacy and that community experience.” The retail activation was conceived as an extension of the resident experience, with tenants being sought specifically for their alignment with the building’s wellbeing focus. “The return on the retail is not massive financially,” he said. “It’s secondary to the experience. Human connection, wellbeing, sunlight. If you look at the blue zones around the world, those are what keep us alive and living longer. “The premise of this building is: how can we feel like the best version of ourselves?” Tyas has strong views about how the industry typically deploys wellbeing as a concept. “Wellbeing is a pretty overused word,” he said. “I like to think it should be built into daily lifestyle.” Yarra City Council approved the scheme unanimously. Tyas attributed that in part to the site’s strong connectivity credentials, with proximity to Burnley Station, tram stops and bike trails, and to council’s appetite for walkable, higher-density residential. ▲ Cadre is the development arm of the Tyas Family Group. Tycorp Construction director James Tyas ( middle ) is flanked by his brothers and Cadre co-directors Chris ( left ) and Nicholas ( right ). Tyas said the apartment mix was deliberately designed to accommodate a range of life stages and avoid the demographic uniformity that can limit community connection in single-tenure buildings. Swan House sits alongside Cadre’s broader rental portfolio: Solhaven in Ballina, an award-winning live-work village concept and The Nest in Mullumbimby north of Byron Bay , a 50-home co-living project. Tyas said The Nest model was being developed as an open-source blueprint for other developers to replicate. “It’s not just about the profits, it’s about purpose,” he said. “We have one opportunity as developers, on finite land, to improve the human experience.” The Swan House project is expected to progress into design development within months.

Build-to-Rent
Leon Della Bosca
Mon 08 Jun 26

Cadre Wins Approval for $48m ‘Modest’ Richmond BtR Scheme

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Build-to-RentLeon Della BoscaMon 08 Jun 26

Cadre Wins Approval for $48m ‘Modest’ Richmond BtR Scheme

Get the full story.

Sunito’s 1000-Hotel Modular Bet Faces Sydney Test

BtR Ready for Lift-Off as Settings Close in on Perfection

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2026 Residential Developer Summit Melbourne | Panel | Anne Jolic, Rotem Rotenberg, David Stone & Julian white

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Build-to-Rent
Leon Della Bosca
Mon 08 Jun 26