Catholic Church's $73m Residential Development Greenlit

According to the Australian Financial Review, the Catholic Diocese of Parramatta has received approval to build a six-storey residential building.

The development will comprise 77 units and two levels of basement parking at the site bounded by 1 Marist Place and 26 O'Connell Street.

The development application includes the demolition of its current buildings on the site and the subsequent construction of a new office building, Chancery building and a Parish Hall. The second site will house the apartment building.

The Church has reportedly committed $73 million to the development works.

Speaking to the AFR, a Diocese of Parramatta spokesperson said, "At this stage, the Diocese of Parramatta intends on retaining ownership of the properties developed under the development application."