Goodman Greenlit for 730-Home Macquarie Park BtR Precinct

Goodman’s $480-million build-to-rent scheme at Sydney’s Macquarie Park has been greenlit. Now approved as a State Significant Development by the NSW Department of Planning, Housing and Infrastructure, the scheme comprises six residential towers ranging from 11 to 20 storeys on the site at 85–97 Waterloo Road and 2 Banfield Road, 17km north-west of the CBD. It will deliver 736 build-to-rent homes alongside retail, commercial and childcare. The project designed by DKO Architecture will replace three commercial office buildings on the 21,700sq m site with seven buildings comprising six residential towers and a three-storey amenities building arranged around a 4100sq m public park. The home typologies are 192 studios, 167 one-bedroom, 343 two-bedroom and 34 three-bedroom homes. Rooftop terraces, co-working spaces, a gym and wellness centre, children’s play areas, media and games rooms, and communal lounges are among facilities for residents. Ground-floor uses will include 3092sq m of retail and commercial space, and a publicly accessible through-site link connecting Waterloo and Banfield roads. The project has a capital investment value of $479.9 million and is expected to create 1398 construction jobs and 173 ongoing operational positions. The approval is a significant change from a 2019 concept approval by the Sydney North Planning Panel, which proposed four commercial office buildings up to 11 storeys. The department found Goodman’s build-to-rent proposal, filed in September of 2023 , was consistent with the Ryde Local Environmental Plan 2014 E2 Commercial Centre zoning. Under it, build-to-rent housing became permissible through the Housing SEPP in 2021. As well, the Macquarie Park Transport Oriented Development rezoning finalised in November 2024. That rezoning provides capacity for 9600 new homes while retaining 100,000 jobs across the precinct. ▲ A rendering of the approved seven-building precinct proposed by Goodman for Macquarie Park. The Ryde City Council objected to Goodman’s proposal over the use of commercially zoned land for residential purposes, strategic planning consistency, vehicle access via Khartoum Road and urban design. The department rejected those concerns, finding build-to-rent housing was a permissible use in the E2 zone and that planning policy for the precinct had evolved to support mixed-use residential development. Thirty of the 31 public submissions received during exhibition objected to the proposal, with traffic, overdevelopment, view loss, overshadowing and construction impacts among the main concerns—increased traffic was raised in 52 per cent of submissions. The department concluded the development would have a negligible impact on the surrounding road network during peak periods, noting its location about 400m from Macquarie Park Metro Station would reduce reliance on private vehicles. The proposal was reviewed twice by the State Design Review Panel in February and July 2023, and its recommendations incorporated into the final design. The approval adds to the state’s growing pipeline of build-to-rent developments as NSW works towards its target of 377,000 new homes over the next five years.

Build-to-Rent
Lindsay Saunders
Fri 26 Jun 26

Goodman Greenlit for 730-Home Macquarie Park BtR Precinct

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Build-to-RentLindsay SaundersFri 26 Jun 26

Goodman Greenlit for 730-Home Macquarie Park BtR Precinct

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Build-to-Rent
Lindsay Saunders
Fri 26 Jun 26