Another piece of the Green Square puzzle is complete today with the next stage of housing close to critical infrastructure reaching its peak in Zetland. Minister for Planning and Public Spaces Paul Scully said Green Square is a great example of the NSW Government working with industry to deliver a successful mixed-use precinct including private, social and affordable housing close to public transport.
“Today is the topping out of three new residential apartment buildings including The Frederick, Portman on the Park and Portman House. The completion of this $210 million project will see the delivery of 311 new homes as part of one of the largest urban renewal projects in Australia,” Mr Scully said. “Green Square is a true demonstration of why successful places are underpinned by connecting housing growth with infrastructure delivery. The Minns Government is focused on delivering infrastructure aligned to housing, in partnership with developers and councils.”
“Our Housing and Productivity Contributions scheme, which is before the parliament, creates a funding structure that will genuinely support housing supply by dealing with a key bottleneck – infrastructure. The new system is expected to raise approximately $700 million each year when it is fully operating which will be invested in infrastructure like roads, schools, hospitals, emergency services and open spaces to support homes and jobs. It will allow the time gap between housing and infrastructure to close recognising that growing communities need infrastructure delivery to support them,” Mr Scully said.
It is expected by 2036 there will be a total of 33,528 homes in Green Square and City South with 15% of homes dedicated to social and affordable housing. Mirvac CEO Development Mr Stuart Penklis said Mirvac will deliver more than 1,600 apartments in Green Square along with office, retail and substantial public spaces within the Green Square Town Centre. “This precinct fosters a community that will meet the needs of its residents for years to come, this commitment could not be more important as we play our part in increasing housing supply where it’s needed most.”