Mirvac says its consortium with John Holland has been chosen to build an $800 million development around a new inner-city Sydney Metro station.
The NSW government will oversee a project that includes the construction of three towers and two buildings above and adjacent to the station in Waterloo, with the project expected to be finished within five to six years.
“We are honoured to be selected by NSW government, in collaboration with John Holland, for the opportunity to create a world-class commercial, retail, residential and mixed used destination for Sydney,” Mirvac chief executive Susan Lloyd-Hurwitz said in a release to the ASX on Thursday.
Under the plan – which will include residential, office and retail space – Mirvac said at least five per cent of homes will be “affordable housing” and 70 apartments will be set aside for social housing.
There will be new community facilities, more trees planted and two new public plazas at Cope Street and Raglan Street.
Mirvac will seek a capital partner for a 50/50 end ownership of the office and retail components, and Mirvac will act as property manager for both.
Mirvac shares were 0.16 per cent higher at $3.205 by 1342 AEDT on Thursday.