The New South Wales (NSW) Government has confirmed Frasers Property Australia and Citta Property Group as the winning tenderers for a $2.2 billion development in Sydney’s Macquarie Park. The developers will work with Mission Australia Housing to redevelop and transform the 8.2-hectare Ivanhoe estate.
The project is part of the NSW Government’s Communities Plus program to redevelop and grow the Government’s social housing portfolio. The Ivanhoe Estate project will include at least 950 new social housing dwellings and 128 affordable homes.
Frasers Property Australia chief executive Rod Fehring said the project would transform a former social housing estate into a world-class residential neighborhood, “demonstrating how the government and private sectors can work together to deliver necessary social and affordable housing by taking a true long-term community view.”
The urban renewal project will also integrate a new high school, residential aged care facility, two childcare centers, a supermarket, cafés and specialty retail shops, jogging track, nature-based playgrounds and exercise stations, a basketball court, open green spaces, and community gardens.
Mission Australia is targeting a 6-Star Green Star Communities rating for the development, and aims for the Ivanhoe community to be carbon-neutral in operation.
Property Council of Australia NSW Executive Director Jane Fitzgerald said the project is a great example of “the private, public, and not-for-profit sectors working together to deliver affordable, sustainable development – more of these partnerships will continue to lead to good outcomes for NSW.”
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