MEDIA RELEASE

6th June 2024

Sydney, Australia: Today, Urban Property Group (“Urban”) has unveiled the first stage of the 1.7-hectare Smith Street Master Plan, designed by Cox Architecture, in the heart of Wollongong. The project at 106 and 120-122 Smith Street features two residential buildings comprising of approximately 500 apartments across nine storeys, offering a mix of one, two, three, and four-bedroom units. The development will include residential and visitor parking, communal open spaces, including a rooftop, and retail and commercial tenancies on the ground floor.  

This launch comes on the heels of Premier Chris Minns’ announcement last week, setting new housing targets for local government areas in Sydney, the Illawarra, Central Coast, and the Hunter. The NSW Government has set Wollongong to complete 9,200 new homes by 20291. Urban Property Group’s Smith Street project will contribute significantly to meeting these targets, addressing the growing demand for housing in the region and supporting the government’s broader housing strategy. 

Additionally, Urban has allocated 25 apartments in the development as in-fill affordable housing, addressing the housing affordability crisis and aligning with initiatives from both the NSW State and Federal Government.  

The development on the underutilised vacant site presents a unique opportunity to provide additional activation and vitality to the Wollongong area, aligning with the overall Shoalhaven Regional Plan. The new mixed-use precinct will activate the area through the delivery of retail and food and beverage offerings, as well as enlivened public spaces that will promote a higher cross-flow of local residents and visitors. By blending three distinct tenures – market housing, affordable housing, and mixed-use commercial spaces at street level – the project will not only enrich the urban landscape, but will also fortifies Wollongong’s economic resilience. 

The project is located within the 800-metre walking radius of both Wollongong and North Wollongong Train Stations. The site’s location at the start of the Wollongong City Centre Precinct offers convenience for residents, whilst offering compelling views to the Illawarra Escarpment and coastal surrounds. 

Mark Elias, Chief Operating Officer of Urban Property Group said, “The Smith Street precinct presents an exciting opportunity for Urban Property Group to revitalise a previously underutilised site and bring life to the neighbourhood. 

“At the heart of all of our developments is our belief in facilitating a community, not just infrastructure. This ethos is at the heart of our design approach, and in these precinct you’ll find a green through-site link that enhances the connection to local public amenity and recreation opportunities.  

“Urban is also proud to allocate over 15 per cent of the development as infill affordable housing – consistent with our commitment to doing our part to address the issues of the housing affordability crisis.” 

Construction is set to commence in the second quarter of 2025 and is expected to be completed by the final quarter of 2026. 

This Wollongong development aligns with upcoming residential, retail, and commercial offerings which Urban is planning in and around some of Sydney’s fastest growing hubs, spanning from the Illawarra to the Central Coast. 

Urban is a progressive, family-owned property company with a passion for market-leading design and a mission to provide more affordable housing options. As a family business with over three decades of experience, Urban has grown into a multi-disciplinary organisation with the capacity to fund, design, develop, and build its own projects, and brings this unique set of experience and values to the project.