Plans to renew Waterloo Estate and deliver a mix of new housing close to the Sydney CBD are a step closer, with the finalisation of the rezoning of Waterloo south.
Minister for Planning and Minister for Homes Anthony Roberts said the finalisation of the planning proposal was a positive step forward for the long-awaited redevelopment.
"The planning control changes mean we can begin the next stage of the project and support the delivery of new social and affordable housing, as well as private homes and new public space," Mr Roberts said.
"This is about breathing new life into an old social housing estate to support the needs of the growing number of people who call - or want to call - Waterloo home.
"The mixed tenure plan for Waterloo south will see 3,000 homes built, including at least 847 social housing dwellings - almost 100 more than currently accommodated on the site. Additionally, 227 of the new homes built will be for affordable housing."
Minister for Families and Communities Natasha Maclaren-Jones said this significant social and affordable housing injection in the area would see many vulnerable people find a safe and stable place to call home.
"The NSW Government is delivering on its commitment to help everyone in NSW have a roof over their head and receive the wrap-around services they need to thrive," Mrs Maclaren-Jones said.
The next project milestone will be the release of a draft voluntary planning agreement (VPA) involving the Land and Housing Corporation (LAHC) as the landowner and City of Sydney, which the community will be invited to have their say on.
Mr Roberts said the VPA follows an in-principle agreement between the parties on contributions and infrastructure needed to support the new homes, businesses and communities set to be created by the renewal.
"Once the agreement is finalised, the changes to zoning will be in place allowing for new development applications to be submitted. But prior to any development occurring, all applications will go through the normal rigorous assessment process, including further community consultation," he said.
LAHC Chief Executive Simon Newport said the search for a renewal partner consortium is progressing, with a shortlist to be finalised in coming weeks.
"We're excited to keep this project moving - a renewal partner will deliver new buildings and infrastructure and collaborate with government to support residents through change, to create a vibrant and mixed inner-city community," Mr Newport said.
For more information visit the Land and Housing Corporation website.
