ACTINDUSTRY NEWSNEWS

Canberra’s first electric vehicle apartment development

In a first for Canberra, a new apartment development will include individual Electric Vehicle (EV) chargers for each apartment in a bid to make the building more environmentally friendly.

The Markets Residences is a 315-apartment development in Belconnen Town Centre that will combine with Capital Food Markets, to create an environmentally friendly precinct of commercial and residential properties.

Developers of the project, Custom, said the aim of the development was to use new technology like EV chargers to get ahead of planned legislation requiring new apartment blocks to be capable of charging cars in all their parking spots.

“It’s about future proofing the building,” the Custom directors said.

“We’re proud to be developing a project that people not only want to live in but will also enjoy significant savings and potential enhanced capital appreciation.”

Installation of EV-ready infrastructure will become mandatory for new developments in the ACT by October 2023.

Adequate charging infrastructure has been identified as the key barrier to EV ownership according to Custom.

Custom said they are proactively planning for the new changes to come into effect so property owners avoid expensive future retrofitting costs. 

While there are many publicly available charging stations across Canberra, Custom said there was still a lack of EV charging points in homes.

Custom have partnered with Canberra’s Electric Vehicle charging specialists, EV ON, to ensure Ocular EV chargers are delivered to all future residents at The Markets Residences. 

“We’re excited to be a part of making The Markets Residences the first fully-EV equipped site in the ACT,” EV ON’S Aliqua James said.

The Agency Canberra is the selling agency for The Markets Residences.

Sustainability Manager at The Agency Canberra, Sasha Trpkovski, said buyers were increasingly seeking sustainable living and design in their homes.

“It’s no longer just about how many bedrooms and bathrooms the home has, but about the sustainability features it offers, and EV chargers are definitely a priority,” Mr Trpkovski said.

Buyers may also be eligible for Green Loans, with several properties at The Markets Residences meeting 7-Star NatHERS (Nationwide House Energy Rating Scheme) Energy Efficiency Rating.

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Rowan Crosby

Rowan Crosby is a freelance journalist specialising in finance and real estate.