Developer and builder Coronation Property Group has entered a conditional deal on a inner-city Sydney site for a build-to-rent project.
The 15,250sq m site at 67 and 73-83 Mary Street in St Peters has received planning permission for more than 200 build-to-rent apartments with 15,000sq m of retail and commercial space.
It is also known as the former Precinct 75, located just 2kms away from Newtown and Alexandria and it is hoped that the deal will help provide more housing within the Sydney city centre.
Major universities, hospitals, Sydney airport and other transport networks are also within close proximity to the site.
The mixed-use plans for the site were designed by Cox Architecture with a community hub, restaurants, bars, a gym and a park.
It will be operated by Coronation’s subsidiary company Nation, which is expected to deliver 1500 apartments across the city by 2025.
In March 2023, developer Home announced that it had recieved grant of consent from the New South Wales' Land and Environment Court for developing the former market site at Precinct 75.
Coronation also has a planned landbank project that will allow for a pipeline of residential apartments.
“This central site underscores our commitment to strategic urban development,” Coronation Property managing director Joseph Nahas said.
“Its proximity to essential amenities and major transport networks makes it an ideal location for our latest build-to-rent offering.
“Our vision for the site extends beyond just delivering buildings, we aim to create vibrant, accessible communities for all Australians through our rental offering at Nation. This project will notably benefit essential workers in nearby hospitals and schools, offering them quality living spaces within easy reach of their workplaces and close to the heart of Sydney.”
The deal for the DA-approved site cements the developer as a serious build-to-rent player in Sydney.
