MEDIA RELEASE

9 October 2024  

Sydney, Australia: Urban Property Group (“Urban”) is thrilled to announce a significant expansion of its Build-To-Rent (BTR) plans for its Fitzwilliam Street, Parramatta project, which will now more than double the number of BTR dwellings originally proposed, making it one of New South Wales’ largest BTR-focused projects.  

Selected as one of only a few projects under the NSW Department of Planning, Housing, and Infrastructure’s new Rezoning Pathways Program, Urban’s State Assessed Planning Proposal (SAPP) will transform the site into a major build-to-rent development, delivering two BTR towers with approximately 800 homes including affordable housing and NDIS-compliant apartments, more than doubling the number of homes originally planned for the site. The newly revised proposal also includes market-leading amenities, and a 200-room hotel, all on the doorstep of Parramatta Station. 

This significant change comes as part of Urban’s response to the NSW Government’s future housing strategy, which calls for large-scale, well-located housing projects to address the state’s growing population and housing crisis. The project will help the NSW Government meet its goal of delivering 377,000 new homes across metropolitan Sydney and regional NSW by 2029. 

Located at 2 Fitzwilliam Street, the unique mixed-use development, will comprise of a 200-room hotel, a retail podium and a dual BTR tower arrangement, with a western tower of ~48 storeys, and an eastern tower of ~35 storeys. Market-leading BTR facilities will be provided and will include a roof deck, rooftop pool, gym facilities, children’s play areas, games rooms, music and multi-purpose rooms, co-working space and a cinema. 

Urban’s Parramatta project has been deemed strategically important to the state of NSW, and through the SAPP rezoning pathway, Urban will now fast-track the delivery of these additional homes within the Housing Accord Period.  

Chris Ferreira, Head of Planning at Urban Property Group, says: “We are proud to have been selected to advance our Parramatta project under the NSW Government’s State Significant Rezoning Policy. This pathway will enable Urban to deliver hundreds of additional homes within the National Housing Accord period, more than doubling the original proposal, with both towers being allocated entirely to BTR homes. It marks a significant step toward increasing the supply of high-quality housing in Parramatta, and the NSW Government should be commended for identifying our project and for advancing the new policy” 

Urban’s expanded vision also supports the City of Parramatta’s ‘Parramatta 2050’ strategy, which envisions Parramatta as a vibrant, sustainable, and inclusive city, addressing key priorities such as housing diversity and urban renewal and reinforces Urban’s commitment to driving the city’s future economic and social growth. 

Urban will work closely with all stakeholders, including the NSW Department of Planning and the City of Parramatta Council, to ensure the project’s successful delivery. With SJB selected as the project’s architect, the development will set a new benchmark for mixed-use, sustainable urban living in the heart of Parramatta. 

This development adds to Urban’s strong BTR portfolio, complementing its BTR project in Granville, which is currently under construction, and highlighting Urban’s role in shaping Sydney’s future housing landscape. 

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.