Leading Sydney developer PAYCE has received planning approval for a 351-apartment development at Melrose Park in a major boost to Sydney's affordable rental stock.
The NSW Department of Planning has granted rezoning and development approval for a mixed-use development of 197 units and 154 co-living units at Hope Street Melrose Park. Evolve Housing will own all 197 units, which will be leased as affordable housing under the Australian Government's Housing Australia Future Fund (HAFF).
The affordable units comprise a significant contribution to NSW's delivery targets under the national housing accord.
In addition, the 154 co-living units will provide much needed rental accommodation for over 700 residents.
PAYCE Chairman, Brian Boyd, said: "This project represents a major boost for new affordable rental accommodation in an area of high demand and high amenity."
"The project is situated within 100 metres of the new Parramatta Light Rail Stage 2, currently under construction, which will provide a much-needed transport link to not only the new Sydney West Metro at Sydney Olympic Park, but also connectivity to both the Sydney and Parramatta CBDs."
The new $800 million Melrose Park Town Centre is 100 metres away providing a major 30,000sqm retail shopping centre for all Melrose Park residents and will open later this year.
Within 400 metres walking distance is the new Melrose Park High School catering for 1000 students as well as the expanded Melrose Park Public School for 700 students. These schools will open on the commencement of Term 1, 2027.
Evolve Housing Group CEO Lyall Gorman said: "The 197 homes to be delivered at Melrose Park are part of 1,094 new affordable homes Evolve Housing will deliver through the HAFF, helping address the growing shortage of affordable housing in well-connected locations,"
"These homes will provide people with greater stability and the opportunity to live close to employment, education and essential services. Projects like this demonstrate the importance of strong partnerships, and we are proud to work with PAYCE and Housing Australia to deliver housing that makes a lasting difference for people and communities."
The project will be delivered in late 2028.
