MEDIA RELEASE

26th April 2024

Today, Urban Property Group’s (“Urban”) State Significant Development Application (DA) for its state-of-the-art mixed-use development in Parramatta has been approved by the NSW Department of Planning, Housing and Infrastructure. The project is centered around a build-to-rent (“BTR”) model and is Urban’s first in Parramatta. Once completed, it is anticipated the site will have an end value in excess of $600 million. 

 The DA provides concept approval for a unique mixed-use development, comprising a commercial and retail podium and dual tower arrangement accommodating a western residential (BTR) tower with maximum height of ~48 storeys, and an eastern commercial office tower with a maximum height of ~35 storeys.  

The approval follows a detailed environmental assessment process and close collaboration with the NSW Department of Planning and Parramatta City Council to refine the project through the assessment of the Concept DA.  

Urban will be commencing a design competition for the project in collaboration with the NSW Government Architect in May, where they will be seeking innovative design entries that reflect the multi-functionality of the project. The winning architect will be selected by a jury and appointed to deliver the detailed design of the project, to be reflected in a further State Significant Development Application to be submitted to the State Government for assessment in late 2024.   

The western tower anticipates a ~48 story BTR offering of approximately 350 residential units, which will offer a mix of private market rental apartments and National Disability Insurance Scheme (NDIS) rental housing within the high amenity development. 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.  

Complementing the BTR offering is a 33,164sqm eastern tower for commercial office and retail use which includes a vibrant ground floor retail offering to complement the neighbouring Westfield Shopping Centre food offerings.  

Chief Executive Officer of Urban Property Group, Patrick Elias, said: “We’re ecstatic to announce that our Concept DA for the Parramatta project has been officially approved, propelling us closer to our goal of crafting vibrant and sustainable urban communities. This site, lying dormant for over two decades, is ripe for transformation. We’re charged with enthusiasm to rejuvenate this neglected space, injecting life and vibrancy into the southern side of the Parramatta Train Station. This project isn’t just about construction; it’s about creating a pulsating heart where none existed before”.  

“Our ambition for Parramatta is to redefine what’s possible within the Build-to-Rent (BTR) sector, seamlessly weaving together retail convenience and commercial spaces. This initiative supports Sydney’s dynamic expansion and fosters the creation of forward-thinking urban spaces. Through our dedicated BTR division, Urban Places, we are not merely constructing residences; we are crafting vibrant, inclusive communities. Our commitment extends beyond mere access to ensure every Sydneysider benefits from living spaces that epitomise both quality and affordability, challenging the conventional wisdom that these attributes must be mutually exclusive.” 

“As we embark on the design competition phase, we look forward to collaborating with top architects and designers to bring our vision to life, setting new standards for urban living.”  

The Concept DA also anticipates retail activation to both Argyle Street and Fitzwilliam Street frontages, and a pedestrian through-site link connecting Fitzwilliam Street and Argyle Street. 

Strategically located on the doorstop of the Parramatta train station and immediately adjacent to Westfield, Urban’s Parramatta project carries great appeal and offers unparalleled interconnectivity, seamlessly integrating residents and businesses. It will also provide a great live-work option for workers within the Parramatta CBD.   

This Parramatta development aligns with upcoming residential, retail, and commercial offerings which Urban is planning in and around some of Sydney’s fastest growing hubs, with high-quality transport-orientated developments slated for Edmondson Park and Penrith, with Macquarie Park already underway. 

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.