DEVELOPMENT FUNDING
The project is viable. The structure needs to match.
Altura's Development Funding is structured for residential, mixed-use, and commercial development projects where the developer needs a lender who understands construction risk, milestone funding, and the commercial realities of getting a project to completion.
WHAT IT IS AND WHO IT'S FOR
Development finance built around the project, not the policy.
Bank development finance works for straightforward projects with clean pre-sales, standard security, and borrowers who fit the bank's preferred profile. For anything else, flexible pre-sale requirements, self-employed developers, complex structures, or loan sizes outside standard appetite, the bank process becomes the constraint.
Altura funds townhouse developments, small-to-medium apartment projects, land subdivisions, commercial and industrial construction, construction refinance, and residual stock facilities. Loan sizes from $1M to $40M. Interest capitalised during the build. Pre-sale requirements assessed on the project's merits. For higher loan requirements, we can arrange outside of our wholesale funding lines.
Who this is for:
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Residential developers building townhouses, apartments, or mixed-use projects
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Developers requiring construction refinance mid-project
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Land subdividers requiring staged or milestone-based funding
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Developers with residual stock requiring equity release for the next development
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Self-employed developers outside standard bank income criteria
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Brokers placing development scenarios that require flexible pre-sale terms
WHEN TO USE THIS STRUCTURE
This structure may be right for your scenario if:
The project doesn't meet the bank's pre-sale requirements.
The bank requires a level of pre-sales the market or the project's stage can't yet support. Altura assesses pre-sale requirements flexibly, based on the project's location, developer experience, and overall feasibility.
The developer is self-employed or operates through a complex structure.
Bank development finance typically requires full financial documentation over multiple years. Altura works with self-employed developers and those operating through trusts, joint ventures, or complex entity structures where the development track record and project feasibility support the deal.
The project needs construction refinance.
The existing development facility has run its course, the lender has changed its appetite, or the project has encountered delays that require restructuring. Altura can assess mid-project refinance where the remaining works, security, and exit are sound.
The project involves specialised asset classes or residual stock.
Boarding houses, childcare centres, accommodation and hospitality assets, or completed projects with unsold stock that require equity release for the next development. Standard bank development appetite for these asset classes is limited. Altura assesses on the project's commercial merits.
HOW WE STRUCTURE
Key lending parameters
All development facilities are structured around the project. Parameters below provide a working framework, actual terms depend on the project type, location, developer experience, and pre-sale position. Submit a scenario to get a direct assessment.
Development Finance
LOAN SIZE
$1M – $40M
PRE-SALE REQUIREMENTS
Flexible — assessed on project merits
MAX LVR
Up to 70%
PROJECT TYPE
Townhouses · Apartments (8–40 units) · Commercial and industrial · Land subdivision · Residual stock · Specialised (boarding house, childcare, hospitality)
MAX TDC
Up to 80% of total development cost (up to 85% for small apartment projects)
BORROWER TYPE
Experienced developers and builders — self-employed considered
INTEREST
Capitalised during construction · Interest only during build
ASSESSMENT
24-hour indicative approval on complete scenario submissions
DEAL SHOWCASE
How this structure has been applied
The deals below are real transactions structured and settled by Altura. Details are anonymised.
DEVELOPMENT FUNDING ·
PROPERTY DEVELOPER, NSW
$18.5M
Residential townhouse development (22 lots) in Baulkham Hills, NSW. Presale requirements and multi-entity ownership structure created complexity that prevented funding through conventional channels.
$18.5M construction facility structured to accommodate the multi-entity ownership position and aligned to the project's delivery timeline. Commercial approach applied to navigate presale and structuring challenges.
Facility secured and settled. Altura's structuring capability, not just capital sourcing, was identified by the borrower as critical to the project's success.
DEVELOPMENT FUNDING ·
INDUSTRIAL DEVELOPER, VIC
$12.8M
Multi-unit industrial estate construction in Armadale, VIC. Timing flexibility and compatibility with a staged delivery and leasing strategy were essential requirements not met by other lenders approached.
$12.8M construction facility structured around the staged delivery programme and leasing strategy. Funding flexibility built in to support the borrower's commercial approach to the project.
Settled and managed seamlessly through to completion. Borrower noted Altura's understanding of the asset class and capital stack as exceptional.
KEY CONSIDERATIONS
What brokers and borrowers ask most
What types of development projects does Altura fund?
Townhouse developments, small-to-medium apartment projects (2–40 units), commercial and industrial construction, land subdivisions, and residual stock facilities. Altura also funds specialised asset classes including boarding houses, childcare centres, and accommodation and hospitality projects where standard bank appetite is limited.
How flexible are Altura's pre-sale requirements?
Pre-sale requirements are assessed on the project's merits: the location, developer track record, project feasibility, and the overall risk profile of the deal. We don't apply a fixed pre-sale threshold across all projects. Submit a scenario and we'll give you a direct position on what we'd require for that specific project.
Can Altura fund development projects for self-employed developers?
Yes. Many of our development borrowers are self-employed or operate through complex entity structures. We assess the developer's track record, the project's feasibility, and the overall financial position. Where the project stacks up, we can structure a facility.
What does Altura need to provide an indicative approval?
A complete scenario submission through the Scenario Desk: project address, development type, loan amount required, LVR and TDC calculation, pre-sale position, developer experience, and any planning or feasibility documentation. The more complete the submission, the faster we can move. Upload relevant planning documents, construction feasibility, and builder contracts where available.
Can Altura refinance a development project mid-construction?
Yes, where the remaining works, security position, and exit are sound. Construction refinance is assessed on what the project looks like at the point of refinance, the completed works value, the cost to complete, the pre-sale position, and the developer's capacity to deliver. Submit a scenario and we'll assess it directly.