Urban Digest

A $496.7 million mixed-use development in Waterloo has been approved, delivering 850 apartments across a 2.16-hectare site at 881-885 Bourke Street.

The Housing Delivery Authority project comprises nine residential and mixed-use buildings across four development parcels, ranging up to 36 storeys. The scheme includes 777 build-to-rent apartments and 73 affordable rental homes, along with commercial and retail premises, indoor recreation facilities, communal amenities and a consolidated basement.

The development will provide 65,109 sqm of gross floor area at an FSR of 3.05:1, with 537 car parking spaces provided within the consolidated basement.

The 73 affordable rental apartments will be provided on-site for 15 years. A separate monetary contribution will also be made under the City of Sydney’s affordable housing provisions.

The precinct includes a central park, new east-west street and through-site pedestrian connection. Building heights and massing were refined through the State Design Review Panel process, including changes aimed at improving solar access to the park, surrounding streets and neighbouring properties.

The project is expected to generate around 500 construction jobs and 75 ongoing operational roles. Waterloo Property Pty Ltd as trustee for Waterloo Property Unit Trust is the applicant.

For more information, search SSD-80441462 on the NSW Department of Planning, Housing and Infrastructure’s Major Projects website.