• Approval received for 12-level, 171-apartment building in Rivervale
• Estimated end sales value of ~$100 million
• Wholly owned Finbar project, part of the Springs precinct

Finbar Group Limited, a leading apartment developer in Western Australia, has received approval from the Metro Inner Development Assessment Panel for the development of a 12-level building in the Springs Precinct in Rivervale. The development, located at 6 Homelea Court, will comprise 171 one and two-bedroom apartments on a 3,809 sqm site. The project is situated in a prime location, with proximity to the Swan River, Burswood train station, the Aloft hotel's F&B offerings, Optus Stadium, and high-frequency bus routes. The development will feature amenities such as a gymnasium, residents' lounge with kitchen and games room, outdoor BBQ facilities, and a reflection garden. This will be Finbar's fifth project within the Springs precinct, following the successful completion of Spring View Towers, Arbor North, Riverena, and The Point. The undeveloped 32 Riversdale Road development, approved in 2023, will also be launched to the market in mid-2025. Finbar's Managing Director, Darren Pateman, stated that this approval represents a timely renewal of the company's development pipeline in an area where Finbar has had a long and successful association, starting with the acquisition of the site in 2012 that led to the Springs precinct's first project, Spring View Towers. The project is expected to leverage the increasing demand for affordable one-bedroom and smaller two-bedroom apartments, with 68% of the units offering one-bedroom apartments ranging from 50 to 63 sqm.