Across the globe, says architect Jeremy McLeod, there is a fantastic culture of living in apartments.

In Melbourne though, Mr McLeod said, people generally choose an apartment only if they can't afford a house – because good apartments are so rare, or so expensive.

Mr McLeod's firm Breathe Architecture designed The Commons, the "deep green" apartments that swept state and national architecture awards last year.

Now, in a uniquely Melbourne model that they hope could revolutionise the local development industry, Mr McLeod has teamed with six prominent architects, and investors.