A planning proposal approved for the heart of Western Sydney will inject $291 million into the local economy, create 275 new homes and close to 300 new jobs.
A new slimline 43-storey building will be among Parramatta’s tallest with a mixture of apartments, offices and shops, and has been proposed on the corner of 116 Macquarie St and 7 Charles St in Parramatta.
The location puts the proposed building within walking distance of schools, public transport, offices, shops and restaurants in Parramatta. The project is expected to create up to 228 construction jobs and 65 ongoing jobs.
Planning Minister Rob Stokes said the proposal will be an exciting new addition to Western Sydney’s skyline and bolster Parramatta as Sydney’s second CBD.
“This is an example of how we can create places where people can live, work and have good access to transport, public facilities and open space,” Mr Stokes said.
“It’s vital that, as our cities and suburbs get bigger, they get better as well.”
Member for Parramatta Geoff Lee welcomed the proposal, which highlights the growth and the exciting future of the region.
“Everywhere you turn in Parramatta, you can see cranes in the sky that are building the new homes, offices and entertainment spaces for local residents and families.” Dr Lee said.
The proposal was made possible by planning rule changes allowing residential development on the site, where only commercial uses were permitted before.
Planning rule changes also include:
· increasing the maximum building height limit from 40 to 43 storeys
· allowing the floor space of the building to be increased
· requiring at least four storeys to be used for offices or shops.
A development application will need to be submitted to Council for assessment and then consideration by the Sydney West Joint Regional Planning Panel before any development can occur.