Allens has advised Stockland and community housing providers Link Wentworth, City West Housing and Birribee Housing in relation to transaction documentation supporting the design, delivery and operation of the Waterloo Renewal Project – one of Australia's largest and most significant inner city renewal initiatives.
Two Allens teams separately advised Stockland and the community housing providers on their successful bid to deliver the project.
It is anticipated that once completed, the first development precinct, Waterloo South, will deliver more than 3000 new homes in the inner city - including more than 1000 new social homes and 600 affordable homes - together with community and retail spaces and dedicated green spaces.
The project has been designed to support residents beyond housing supply, through dedicated initiatives to strengthen community connections, enhance wellbeing, and open pathways to skills development and employment.
'While funding and delivery of housing continues to be a challenge nationally, this project represents a significant step in government partnering with the private sector to provide better housing for all residents and improved outcomes for the community,' said joint lead partner Kip Fitzsimon.
'The entire Allens team feels so fortunate to have supported Stockland to get this terrific project to close. This is by far one of the more complex property deals procured by government in recent times – Stockland is the perfect development partner to help bring the government's vision for seamless integration of social, affordable and private housing to life.'
'We are delighted to have continued our long-term relationship with Stockland by advising on one of Australia's largest and most significant inner city renewal initiatives,' said joint lead partner Kate Towey.
'We look forward to continuing to partner with Stockland on upcoming development and capital partnership opportunities.'
A cross-disciplinary team from Allens advised the consortium on project, construction, environment, planning, taxation, corporate structuring, financing and intra-consortium matters.
