A $64 million construction project in Redfern has received fast-tracked approval under the NSW Government's Planning System Acceleration Program.
Minister for Planning and Public Spaces Rob Stokes said the new 18-storey building in the heart of Redfern would be home to more than 400 students, create 240 construction jobs and provide a groundfloor retail area.
"This is another example of a major shovel ready project being given fast-tracked approval to keep the NSW economy ticking throughout the pandemic," Mr Stokes said.
"This uniquely designed tower will provide high quality housing for students and keep more of our construction workers in jobs, while reflecting Redfern's indigenous heritage.
"The building will include Aboriginal artwork, creative open public spaces, and it's a just a short hop to Redfern station and many public transport options.
"Now is the time to support construction jobs so that new accommodation will be online when students return as our borders reopen"
Minister for Skills and Tertiary Education Geoff Lee said affordable student accommodation was a priority for the NSW Government.
"This development adds to the mix of affordable housing on offer for both domestic and international students close to nearby universities and other tertiary educational institutions," Mr Lee said.
"The Government's approval of this project is also a show of confidence in the future when we will overcome the COVID-19 pandemic and university life in NSW will flourish again."
University of Sydney Vice-Chancellor and Principal Dr Michael Spence said: "We welcome with open arms any increase of affordable student accommodation within the Redfern area, to help relieve pressure for our students and make it easier to find beds they can afford that are close to our Camperdown campus."
The Redfern development is one of 11 projects in the sixth tranche of the NSW Government's Planning System Acceleration Program. To date, the program has created opportunities for more than 50,000 direct jobs and more than $25 billion of economic investment.
