Macquarie Park is set for hundreds of new homes, including social housing, a community facility, a village green and town square after the NSW Government gave planning approval to stage two of the Midtown Precinct redevelopment.
NSW Land and Housing Corporation (LAHC) Chief Executive Simon Newport said it was a major milestone for the $1.76 billion renewal of the former Ivanhoe Estate, allowing a further 650 homes across three apartment buildings and four townhouses, including 216 for social housing.
“This is the second of eight stages of the redevelopment, and once fully complete it will deliver around 3,300 new dwellings, including 130 affordable units and importantly 954 social homes - more than three times the number of social housing units being replaced,” Mr Newport said.
“It will follow the commencement of stage one in 2020, due for completion in late 2023, which kicked off development of the first 765 new dwellings and supporting infrastructure, including a new road network and improvements to Lyonpark Rd intersection.
“Midtown is one of Australia’s largest social housing renewals, set to become a vibrant mixed-use precinct and community, including shops, cafes, a public school and two childcare centres.”
Mr Newport said that stage two of Midtown will create 1,500 construction jobs and 80 operational jobs during development, while increasing housing supply, choice and affordability in a highly accessible location.
“We’re creating more social housing for Sydney, which is modern and accessible, and supported with key health, education, transport and community services.”
Social housing will be managed by Mission Australia Housing who will support residents to connect with education, training and employment opportunities, as well as provide support for any tenants returning to the redeveloped site once completed.
Frasers Property Australia is due to commence construction on stage two in 2023.
For more information please visit the NSW Land and Housing Corporation.