Sydney is poised to undergo one of its most ambitious housing renewal projects, promising more than 3,000 new homes in its inner city. The Waterloo Renewal Project, which focuses on transforming the Waterloo area, is now one step closer to beginning construction.
With a plan to deliver affordable housing, the project aims to address the ongoing housing supply shortage in the region. The New South Wales (NSW) government has awarded Stockland, in partnership with Link Wentworth, City West Housing, and Birribee Housing, the contract to spearhead the development.
With this, the first phase of the project will focus on the southern part of Waterloo, covering around 65% of the estate. The initiative aligns with the state government’s $6.6 billion investment into addressing housing needs, especially within the social and affordable housing sectors.
A Bold Vision for the Future of Housing
According to NSW Minister for Housing and Homelessness, Rose Jackson, the project is designed not only to build new homes but also to foster a vibrant and well-connected community. The first stage of the project, Waterloo South, will see the creation of over 1,600 social and affordable homes.
This includes more than 1,000 social homes and approximately 600 affordable homes, ensuring that a significant portion of the development is accessible to lower-income families. The project will feature several key components aimed at improving the quality of life for future residents.
A new two-hectare park will sit at the heart of the development, providing essential green space, while retail spaces will be integrated into the streetscape along George Street.
Furthermore, Birribee Housing, one of the project’s partners, will ensure that 20% of social homes and 15% of affordable homes are allocated to Aboriginal and Torres Strait Islander residents. This is part of the project’s broader commitment to cultural inclusion.
Meeting Modern Demands for Sustainability and Accessibility
The Waterloo Renewal Project is not just about building homes; it is about creating a modern, sustainable environment that meets the expectations of today’s residents. The new homes will adhere to stringent accessibility and sustainability standards, with a focus on achieving silver and gold levels in the Liveable Communities Design Standard.
In addition, the entire precinct is set to meet a minimum 6-star Green Star communities rating. This certification highlights the project’s commitment to environmental sustainability, ensuring that the development will meet the highest standards of energy efficiency and ecological responsibility.
Construction is slated to begin in 2027, and the project will continue to evolve over the coming decades, with the completion of the remaining stages expected within 30 years. The Waterloo Renewal Project is a significant step in addressing Sydney’s pressing housing needs while ensuring that the development benefits all sectors of the community.
