A five-building build-to-rent complex had been put forward for the Canterbury Bankstown west of Sydney.
A concept development application for the site has been filed by 30 Auburn Rd Pty Ltd and is now on exhibition. The company is associated with Anthony Crane and Raad Holdings.
The state-significant development, which has been proposed to the Canterbury Bankstown Council, would deliver build-to-rent housing at 30-46 Auburn Road, Regents Park.
The buildings in the precinct will range from six to 13 storeys, with 543 units, 416sq m of retail and a 102-capacity childcare centre.
The site has a capital investment value of $163 million and is being designed by Smith & Tzannes.
The submission comes after an explosion of build-to-rent in recent years with predictions it will ‘come of age’ in 2023, and as Canterbury-Bankstown is named a Sydney hotspot for developers.
The site is being developed with affordable housing provider Pacific Community Housing—there will be 50 per cent affordable housing, rented out at 80 per cent of the market rate.
The residential mix will consist of 137 one-bedroom apartments, 258 two-bedroom units and 39 three-bedroom homes, “suited to a wide range of households”.
In-fill housing will provide a significant proportion of the affordable housing for a minimum of 10 years, and Pacific aims to “provide longer and stable term housing tenancies to support those on lower and moderate incomes”.
The finished site will have 52,905sq m of gross floor area, a 3000sq m central park, and parking for 688 vehicles.
The 0.8ha site is now home to an “underutilised, decaying cluster” of industrial sites and warehouses, surrounded by freight and passenger rail lines.
Regents Park town centre and railway station are 500m to the north, connecting the area to Sydney CBD, Liverpool and Bankstown.
Under an earlier Bankstown LEP, it was rezoned for residential purposes.
The value of construction is estimated to be $129 million.
“The proposal will facilitate a significant amount of affordable housing and rental housing within a well connected location near Regents Park train station and centre, connecting the site to jobs, goods and services, entertainment and education.
“Through its renewal and revitalisation, Regents Park will become a place of enhanced wellbeing.”
