Parramatta Square to undergo $1.6 billion urban renewal

Parramatta will receive a $1.6 billion transformation, with Parramatta City Council announcing major progress on one of New South Wales’ most significant sustainable urban renewal development projects - Parramatta Square.

Leighton Properties has been confirmed as developer for Stage One of the six-stage development, 169 Macquarie Street, which will deliver six new high-rises to frame the Church St Mall.

The Lord Mayor also announced that Parramatta City Council is working with Alfasi Property Developments, as the developer of 153 Macquarie Street, to deliver Parramatta Square Stage Three.

Cr Chedid said the development marked an important milestone for Parramatta.

"This $1.6 billion, three hectare, mixed-use development, will provide the foundation for growth in this City and create a future city based on good urban design, that is environmentally sustainable, has vast, vibrant, beautiful public spaces and an effective integrated public transport system,” Cr Chedid said.

Construction of Stage One is expected to start this year and be completed by late 2015.

"Parramatta Square Stage One offers 14-storeys and 25,000 square meters of office space that can accommodate up to 2,000 workers," Cr Chedid said.

“This will go some way towards meeting the current, strong demand from businesses keen to establish a foothold in one of the nation’s strongest performing CBDs.”

"When we took this opportunity to the leasing market, we received 100,000 square meters of firm interest; demonstrating just how constrained A-grade office space is in Parramatta. Our vacancy rate sits at 1.5%; well below the averages for North Sydney, the Sydney CBD and Australia.”

Cr Chedid has opened design excellence competitions for the remaining three stages of Parramatta Square, Stage Four, Stage Five and Stage Six, aimed at activating the public domain.

Stage Four and the Public Domain will form the brief for one design competition, with urban designers, architects, and landscape firms invited to consider the design of the retail and commercial buildings, within the context of the entire public domain of Parramatta Square.

A separate design excellence competition will be held for the remaining two stages, Five and Six, and will complete the designs for the suite of tall buildings to complement Stage Two’s Aspire Tower.

Rising 90 storeys above the city, Aspire Tower will include 700 apartments, a 150-room hotel, a sky deck, bars, a retail podium, community facilities and a library.

"The decision to launch these two design competitions will provide certainty for the remaining stages of Parramatta Square and ensure that we maintain the highest quality of design excellence for Parramatta," Cr Chedid said.

Stage Three of Parramatta Square, designed by fjmt, is a mixed-use development that will incorporate contemporary commercial office space, ground floor retail, major civic facilities and significant public space for Parramatta.

The proposal consists of two main components, a 15-level, A grade commercial tower to be developed by Alfasi Property Developments and separate podium building to be developed by Parramatta City Council for its new civic building, community centre and library.

Mr Alfasi from Alfasi Property Developments said, "The Stage Three development provides key integration elements of the public realm with the built form and also an excellent basis for the creation of stimulating work environments and a sense of place to inspire."

All of the buildings developed in Parramatta Square will  aim to achieve a Five Star Green Star, as the collective square aims for the Communities rating.

"Parramatta City Council is the first local government in Australia to seek a Green Star – Communities rating, and is also the first local government to specify Green Star ratings for each building across an entire precinct," said Romilly Madew, Chief Executive of the Green Building Council of Australia.

"Green Star certification sends a clear message to our community that we are committed to building long-term assets that are sustainable, productive and fiscally responsible," summed up Cr Chedid.

PARRAMATTA SQUARE: SUMMARY

STAGE ONE: 169 Macquarie Street, Parramatta

Commercial, 24,500sqm 5 Green Star office tower designed by Architectus and to be developed by Leighton. Construction completion anticipated late 2015.

STAGE TWO: The Aspire Tower, Corner Church and Darcy Streets, Parramatta

90-storey Grimshaw designed 5 Green Star mixed-use tower of 700 apartments, 150-key hotel, ground level retail, a sky deck and experience centre. Planning approval anticipated and Expression of Interest for developers anticipated late 2013.

STAGE THREE: 153 Macquarie Street, Parramatta

Commercial and community facilities, 22,000sqm 5 Green Star office tower, 7,000sqm of 5 Green Star public facilities including civic building, community centre and library opening out onto the public domain. Planning approval anticipated late 2013 and construction start anticipated early 2014.

STAGE FOUR:

5,000sqm 5 Green Star mixed-use retail and commercial building central to the Parramatta Square Public Domain. Subject of design competition.

STAGE FIVE & SIX:

100,000sqm dual commercial 5 Green Star office towers. Subject of design competition.