$400m Build-to-Rent Twin Towers Proposed for Parramatta CBD

$400m Build-to-Rent Twin Towers Proposed for Parramatta CBD

September 1, 2025

Aerial view of two proposed high-rise residential towers at 2 Fitzwilliam Street, Parramatta, surrounded by other commercial buildings.

Plans for two landmark towers in the heart of Parramatta CBD have been unveiled, with the $400 million project now on public exhibition until 22 September 2025. Located at 2 Fitzwilliam Street—opposite Parramatta Station and the bus interchange—the proposal by Urban Property Group aims to deliver high-density rental housing, a hotel, retail, and significant public realm improvements.

The development forms part of the NSW Government’s State Significant Rezoning Program. It contributes to the broader agenda to boost housing supply in infrastructure-rich areas across Greater Sydney.

What’s Proposed

The proposal includes two towers of 40 and 48 storeys over a shared podium. Urban Property Group plans to deliver 703 build-to-rent apartments. Of these, 47 units will be allocated for affordable housing for 15 years. The scheme also provides 50 Specialist Disability Accommodation apartments and five additional units for carers.

The podium accommodates a 217-room hotel, a function centre, and 684 square metres of ground-floor retail. Five basement levels will provide 175 car spaces and 283 bicycle spaces.

A through-site pedestrian link between Fitzwilliam and Argyle Streets will provide 24/7 public access. Landscaped areas and new lighting will support safety, amenity, and walkability.

Strategic Location and Housing Contribution

This development would contribute about 3.6% of the City of Parramatta’s five-year housing target. It supports the NSW Government’s housing goals and is one of several projects selected for the State Significant Rezoning Program in 2024.

In addition, the inclusion of affordable and specialist housing reflects state planning priorities. Build-to-rent housing also improves long-term rental supply and offers greater security for tenants.

Because of its scale and residential focus, the project qualifies as State Significant Development under the Planning Systems SEPP.

Site and Planning Context

The 2 Fitzwilliam Street site is currently vacant. It previously hosted low-scale commercial uses. The site comprises four allotments totalling 2,811 square metres. It sits within the Parramatta CBD Planning Framework.

Parramatta is designated as Sydney’s Central River City. Government investment has accelerated in the precinct, including Parramatta Light Rail, Sydney Metro West, and upgrades like Parramatta Square. These projects reinforce the area’s strategic importance.

Located beside Parramatta Station and the bus interchange, the site has excellent public transport access. As a result, the proposal supports the aims of the Parramatta CBD Planning Proposal and the Greater Sydney Region Plan.

Planning Stages and Approval Pathway

The development is progressing through three stages. It is being delivered under a coordinated pathway supported by the NSW Government.

Concept SSD Application (October 2023)

Urban Property Group submitted a Concept SSD application to establish development parameters. These included building envelopes, land uses, height limits and GFA. The Department of Planning approved the application in April 2024.

The concept allowed for two towers over a podium. One tower was residential, and the other was commercial. These envelopes informed the design competition and provided flexibility for future detail.

Design Excellence Competition (April–July 2024)

A design competition was required under the Parramatta LEP. The competition brief retained the commercial and residential tower mix from the concept approval. The process followed the GANSW Design Excellence Guidelines.

SJB, working with Land and Form, won the competition. Their design responded to complex site constraints and focused on pedestrian connectivity and public domain integration.

Detailed SSD Application (August 2025)

The current SSD application now on exhibition proposes both towers as build-to-rent residential. The podium incorporates a hotel, replacing the original commercial office component. While the building form remains consistent with the approved envelopes, the use has shifted in response to updated market analysis and policy direction.

Therefore, the revised scheme still maintains quality outcomes, which the original jury later verified. The NSW Government Architect granted a formal exemption from holding a new competition.

A site-specific LEP amendment is also proposed. The Department is assessing this in parallel with the SSD application. Moreover, under Section 4.24(4) of the EP&A Act, consent conditions can override existing LEP provisions to implement these new controls.

To enable progress, the proponent secured approval for early works in May 2025. This allowed demolition and excavation to begin while design revisions proceeded.

Design evolution by SJB

Design Competition and Exemption Process

The design competition involved three architectural teams: SJB, Bates Smart, and Plus/Furtado Sullivan. Each submission responded to criteria including built form, sustainability, and public domain outcomes.

The jury praised the winning entry for its integration of towers, landscaping and civic space. While the original design reflected a commercial-residential mix, the revised scheme retains the same massing and scale.

To support the change, the project team established a Design Integrity Panel. This panel included members of the original jury. It confirmed that the design excellence outcome remained intact.

As a result, the NSW Government Architect granted a formal exemption from rerunning a new competition. This ensured consistency while supporting efficient delivery.

Connecting with Country

Urban Property Group engaged Ngurra Advisory to lead the Connecting with Country process. Dharug Elders and knowledge holders contributed insights through a Walk on Country session.

These insights influenced the public domain design. Materials, plantings and layout reflect Dharug stories and cultural principles. Additionally, the approach supports ecological responsiveness and cultural visibility.

The process aligns with the GANSW Connecting with Country Framework and adds depth to the design outcome.

Sustainability and Environmental Commitments

The proposal targets a net zero-ready outcome by 2035. All-electric systems and renewables will support this. In addition, the hotel aims to achieve 4-star NABERS Energy and 3-star Water ratings.

The residential buildings are designed to meet or exceed BASIX and SEPP Sustainable Buildings criteria. Features include high-performance façades, efficient HVAC systems, and future battery storage capacity.

Embodied carbon has been considered. Materials such as green concrete and low-carbon finishes are proposed. These selections are intended to reduce lifecycle emissions and align with best practice targets.

Landscaping follows a “Let green take over” philosophy. This includes green roofs, vertical planting, and endemic species. Consequently, these design choices support biodiversity and urban cooling.

Public benefits include improved pedestrian connections, lighting, sightlines and 24/7 access. Overall, the development improves safety and walkability in a dense CBD context.