Sydney developer Freecity is planning its next co-living project, adding 505 apartments to the heart of a council-versus-state rezoning row at Macquarie Park.
The group’s latest co-living project follows an influx of student accommodation and build-to-rent plans in the area by the likes of Goodman Group and other international developers after a parcel of land in the locale was rezoned.
However, not everyone was happy about the zoning—the City of Ryde launched a campaign to protect employment within the district and counter the NSW government plans.
In November, NSW premier Chris Minns proposed rezoning 8ha of land opposite Macquarie University, around the shopping centre between the M2 and Epping Road.
The land was zoned to support commercial office space for up to 23,000 jobs but under the proposal “developers would be given flexibility” and could choose to instead construct up to 5040 build-to-rent homes.
Just before Christmas, City of Ryde mayor Sarkis Yedelian launched his campaign to counter the proposal, which he said would “rip the heart out of employment in the Innovation District”.
“We need to ensure our current and future communities have the job opportunities they deserve in this precinct, with a high-quality lifestyle and limitless opportunities at their doorstep,” Sarkis said.
“We can achieve this through striking the right balance in delivering housing and jobs in the Macquarie Park Innovation District, which already houses 10 of the world’s top 100 companies.
“By working with the NSW government, local businesses, Macquarie University and landowners we can deliver lifestyle and opportunities for our community.”
Freecity’s plans banked on that flexibility proposed by the state government and show a 19-storey co-living tower with 44 car, 16 motorcycle and 326 bicycle parking spaces under designs by Cox Architecture.
It would replace ageing apartment complexes on the 1284sq m site at 169-171 Herring Road.
Freecity picked up the site in January, 2023 and said the project would mark “a new era in the vibrant landscape of Macquarie Park”.
It has an estimated cost of $73 million.
“The Macquarie Park co-living development intends to cater to a diverse demographic, including young professionals, students and digital nomads seeking a modern and flexible living solution,” the group said at the time of the purchase.
Freecity has a portfolio worth more than $2 billion that includes commercial, residential and co-spaces. Its other co-living project is at Frederick Street, Rockdale, and comprises 200 units.
