Stockland Re-Enters Density in $5bn Apartment Play

Stockland’s strategic shift to higher density is in full flight as two new projects push the property giant’s apartment pipeline towards the $5-billion mark. Further details have been revealed about its Waterloo Renewal Project in Sydney, as well as plans for the Jetstar headquarters in Melbourne’s Collingwood, the next highly anticipated projects in that pipeline. The shift to apartments was announced in 2021 with the appointment of Tarun Gupta as chief executive, who outlined a “dynamic reshape of the portfolio”. Sheds, shopping and apartments are now in the works with the final part of the reshape—residential—featuring in the group’s end of financial year results released August 20. Melbourne and Sydney will be home to the bulk of the ASX-listed developer’s apartment projects, a spokesperson told The Urban Developer . ▲ Stockland picked up the Jetstar headquarters at Collingwood last year. “Over the next few years, we are expecting the apartment composition will increase in line with our long-term strategic capital allocation,” they said. “Our re-entry into the urban development market is also timely, as urban precincts are thriving. “Lifestyle trends such as hybrid working, social and environmental preferences, and a desire to belong, are driving the way residents live and connect within our cities.” Stockland acquired the Jetstar headquarters at Collingwood late last year. The property is tenanted to 2027 and zoned commercial 1, allowing residential and mixed-use development. The project planned for the site at 79–81 Victoria Parade has a total value of $640 million, and proposes 427 homes for the 5241sq m parcel. Meanwhile in Sydney, Stockland’s Waterloo Renewal Project is the biggest in its pipeline. To be developed alongside consortium partners, it will deliver around 3000 apartments at a value of $3.7 billion. ▲ The Stockland Consortium will deliver the Waterloo Renewal Project with Homes NSW. “The Waterloo Renewal Project is an opportunity to partner with government to help address the broader housing crisis by providing regeneration of inner-urban precincts,” the spokesperson said. “This is a city-shaping project that will focus on the renewal of the precinct, while respecting the history and cultural significance of the site.” Half of the homes in this development will be affordable or social; 20 per cent of the social homes and 15 per cent of the affordable will be prioritised for First Nations people. Link Wentworth, City West Housing and Birribee Housing are the consortium partners for the project that is due to get under way in 2027, pending approvals. Already under way is Stanton Place at Rosebery in Sydney’s inner-south. The 144-apartment scheme has a project value of $291 million and was launched in May. It comprises three apartment buildings along with the historical Mentmore House. The first, to be called Primrose, is of seven storeys. ▲ A rendering of Stanton Place in inner-Sydney’s Rosebery. Back in Victoria, Stockland’s $262-million plans for 429 Albert Street, Brunswick was approved by the Victorian Civil and Administrative Tribunal in 2022. That project comprises two complexes, which are part-eight and part-nine storeys, as well as three-storey townhouses for a total of 123 homes overlooking Gilpin and Clifton parks. Data, logistics, apartment opportunities Stockland’s annual outlook details what they expect to be “drivers of longer-term growth” in the property market. The results show the company is looking for “incremental opportunities in data centres, logistics and apartments” over the next few years. Stockland chief executive Tarun Gupta says they are expecting strong earnings growth in the coming year to reflect these initiatives. “We have positioned the business for a step-change increase in production from the 2026 financial year, providing more housing solutions in an undersupplied market,” Gupta said on the release of the results. “We have also established multiple drivers of sustainable growth in future periods, including capital efficient, longer-term residential and logistics projects secured during the 2025 financial year.”

Stockland Re-Enters Density in $5bn Apartment Play

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