The rezoning proposal would deliver 3,060 new homes, eight hectares of new public open space, a large multi-purpose indoor recreation facility, along with paths for walking and cycling.
The development is currently zoned to support commercial office space for up to 23,000 jobs.
Under this proposal, developers would be given flexibility and could choose to instead construct up to 5,040 build-to-rent homes instead of commercial real estate.
This is a well-located part of Sydney that is bounded by two Sydney Metro stations (Macquarie University and Macquarie Park), is home to Macquarie University and the Macquarie Centre shopping centre, and is near the Lane Cove National Park.
Passengers from Macquarie Park Metro Station will be able to reach the CBD within 20 minutes when the City and Southwest Metro opens between Tallawong and Sydenham in 2024.
The Macquarie Park Innovation Precinct Stage 1 proposal would also create a lively community in one of Sydney’s biggest employment hubs.
Macquarie Park is the fourth largest office market in NSW, behind Parramatta, North Sydney and Sydney CBD, and is home to businesses from industries such as IT and pharmaceuticals.
The proposal is now open for consultation. It includes mixed-use commercial and residential development along Shrimptons Creek, Lane Cove Road and Epping Road and the renewal of Waterloo Road.
Along with residential development, the revitalisation proposal includes ground level retail for entertainment, dining, and recreation.
The new public open space would include play areas, sports fields, fitness stations, BBQ areas along with picnic tables and shelters.
The rezoning proposal builds on the vision set out in the Macquarie Park Innovation Precinct (MPIP) Place Strategy finalised by the Department of Planning and Environment (DPE) in 2022 which outlines a staged approach to the development and transformation.
Feedback received from the community and stakeholders will be taken into consideration to help inform the final plan in mid-2024.
To view the proposal and have your say, visit the NSW Planning Portal.
Premier of NSW Chris Minns said:
“We are constantly searching for ways to ease our housing crisis, and this proposal can help.
“The construction of homes in NSW has simply not kept pace with our population growth.
“This area is already a good place to work, and we will make it a great place to live and work.
“More and more, we will ensure the construction of new homes happens in places with great transport links, like this area.
“We need to take full advantage of the investments our state’s taxpayers make into public transport.
“Proposals like this are important to change the trajectory of the housing supply crisis.”
Minister for Planning and Public Spaces Paul Scully said:
“We need more housing in established areas to improve affordability, reduce infrastructure costs, and limit the burden on taxpayers.
“This rezoning is an opportunity to deliver more homes on the doorstep of the CBD and near well-connected public transport including the new Macquarie Park metro station.
“We want to see density in precincts like this be part of Sydney’s future, supporting homes and jobs that are accessible to everyone in the community.
“The precinct’s growth has the potential to provide a huge economic boost and secure Macquarie Park’s reputation as a world-class place for business, innovation, research, and education.
“More homes and workplaces will also help support a 24-hour economy with more opportunities for late night entertainment, dining, and recreation.
“I encourage the community to view the proposal and have their say by Sunday 10 December 2023.”