Mirvac announced that its consortium with John Holland has been selected to deliver Sydney Metro's integrated station development at Waterloo in collaboration with the NSW Government.
With an anticipated end value of $800 million, it is intended that all components of the project will be completed over the next five to six years.John Holland will deliver the Waterloo metro station and the Consortium will deliver the integrated station development component.
The Waterloo concept comprises five building envelopes including three towers and two mid-rise buildings above and adjacent to the station. Under the plan, which will include residential, office and retail space, at least five per cent of homes will be affordable housing and 70 apartments will be set aside for social housing. There will be new community facilities, more trees planted and two new public plazas at Cope Street and Raglan Street.
The Consortium will work closely with local community groups to create a placemaking strategy which supports local community involvement and investment in the future outcomes of the development.
Mirvac will seek a capital partner for a 50/50 end ownership of the office and retail components, and Mirvac will act as property manager for the office and retail components.
Mirvac's CEO & Managing Director, Susan Lloyd-Hurwitz commented that Waterloo is a "once in a generation" opportunity to drive genuine social renewal, driven by the Government's vision to create a world-class, integrated station development which supports economic development and genuine placemaking outcomes for the broader precinct.
"We are honoured to be selected by NSW Government, in collaboration with John Holland, for the opportunity to create a world-class commercial, retail, residential and mixed used destination for Sydney. "