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Clothing Store Precinct surprises

Transport Asset Holding Entity (TAHE) is looking to retain ownership of most of the Redfern North Eveleigh Clothing Store Precinct by a 99-year ground lease to a developer / occupier.

A media statement on the Expression of Interest said the redevelopment is to provide 75 per cent of the up to 600 homes as build to rent and 15 per cent affordable. The balance 10 per cent along Wilson Street may be sold or leased depending on the developer interest. The redevelopment is to be consistent with the 2008 Master Plan.

What is not clear is if the 15 per cent affordable housing describes the 88 affordable units in the Platform Apartments already on the site or if the 15 per cent is additional, giving the site 30 per cent affordable housing upon completion, which would be widely welcomed. The Minister’s office told the SSH it was additional but a source within TAHE told REDWatch that it had not yet been decided and the community would be told the outcome by the end of February.

TAHE has also released the Potential Clothing Store and Park Charrette Outcome which will inform developers about possible uses for the Clothing Store and the park.

Waterloo South plan and players revealed

The Department of Planning (DPE) has finalised the planning controls for Waterloo South and following the exhibition of a planning agreement between Council and the Land and Housing Corporation (LAHC) the new controls will come into effect on February 28, 2023.

LAHC has also released details of the four consortiums shortlisted to develop Waterloo. The list will be reduced to two consortiums by mid-2023 with a final consortium named by the end of 2023. The four consortiums include a developer and community housing providers.

Lendlease has partnered with St George Community Housing, while Frasers Property Australia has partnered with Bridge Housing. Mirvac has partnered with Community Housing Limited , Aboriginal Community Housing Limited and National Affordable Housing Consortium Limited. And Stockland has partnered with Link Wentworth HousingCity West Housing and Birribee Housing (a subsidiary of NSW Aboriginal Land Council).

The LAHC announcement was only made exclusively to the Australian Financial Review behind its paywall. LAHC clearly thinks it is more important to let the financiers know who might get the business in the $4.4 billion development, rather than let Waterloo tenants know who might be knocking down their houses and be their post-development landlord.

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Geoff Turnbull is a co-spokesperson for REDWatch.

 

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