Build-to-rent homes planned for Sydney CBD

The New South Wales government is pushing a plan to address the housing shortage in Sydney, hunting for industry partners for a build-to-rent project in the heart of the city’s CBD.

The project will include about 600 build-to-rent affordable homes, a new parkland and the adaptive reuse of a heritage-listed clothing store building in the sub-precinct of Redfern-North Eveleigh, according to a report by The Australian.

The government is looking for an industry partner to develop and manage the site on a 99-year ground lease.

Rob Stokes, NSW minister for infrastructure, cities and active transport, said that the people who help Sydney function shouldn’t face hours-long commutes to get to work.

“This government has committed to set aside 30% of all residential stock on our urban renewal precincts for affordable and diverse housing, and on this project we’ll deliver triple that target,” he told The Australian. “This will provide much-needed secure housing for renters.”

Three-quarters of the homes in the Redfern project are earmarked as build-to-rent, and 15% as affordable housing for key workers, Stokes said.

“This is another city-shaping precinct that will create 3,000 square metres of new, green public parkland, reimagine the heritage-listed clothing store into a space for the community, and play a critical role in bolstering Sydney’s status as a 24-hour global city,” he told The Australian.

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Transport Asset Holding Entity chief executive Benedicte Colin told the publication that the precinct was being developed in partnership with Transport for NSW and had been subject to community consultation.

“We’ve worked with the community on the vision for this precinct and will continue to do so over the coming months,” she said. “This proposal highlights TAHE’s ability to deliver innovative housing models, ideally located next to public transport, while maintaining long-term ownership for the people of NSW.”