Mirvac's mixed-use development on the former site of a major hospital in Sydney’s inner western suburb of Marrickville has obtained council approval.
Marrick & Co was designed in partnership with the newly-established Inner West Council, Tonkin Zulaikha Greer (TZG) Architects and BVN. The development includes affordable housing units to be administered by Council.
Marrick & Co encompasses a host of community benefits including a new community library provided through adaptive heritage restoration of the former Marrickville Hospital, a new public park and children’s garden and nine affordable housing units.
Mirvac general manager Toby Long said this important milestone signified a major step forward for delivery of Marrick & Co, estimated to be completed around mid-2019.
“This is a great outcome, not only for Mirvac and buyers at Marrick & Co but the whole Inner West community. [W]e are looking forward to moving ahead and delivering all the benefits that this development offers.
“Marrick & Co represents a new direction in urban living where sustainability is measured in a much more holistic way than BASIX. It will be the first One Planet Living community in NSW and only the third in Australia, adopting principles that contribute social capital such as health, happiness, culture and community.” Long said.
[Related reading: Mirvac’s New Approach To Marrick & Co]
One Planet Living
The concept of One Planet Living is a global standard that builds on sustainability work carried out over the past few decades and uses ecological footprinting and carbon footprinting as its headline indicators. It is based on ten guiding principles of sustainability as a framework.
Guided by One Planet Living principles, Marrick & Co has been designed with the aim of promoting a more connected and conscious way of living. This includes The Common where residents can gather outdoors, group fitness classes, a private kitchen garden and a dedicated space for book swapping.
In recent years Marrickville has gradually adapted and changed its identity due to an influx of young professionals, increasing numbers of liquor licences and an emergence of food and art culture.
The median property price for units in Marrickville is currently $731,000, which is over double what it was eight years ago at $350,000. The median house price for a home is $1,470,000, up from $610,000 eight years ago.
Long said over 75 per cent of first stage apartments and terraces had sold and the final release of The Lilydale and Lilydale House, would be launched next month.
“We are expecting a similar positive response to the first stage where there was strong market sentiment for homes that enable connection between neighbours and to an established, proud and vibrant community.
“Local buyers were especially well represented, supporting our confidence in the demand for Mirvac quality product in this increasingly popular location just 7km from the CBD. Marrick & Co has been our debut project in this part of the Inner West and has been extremely successful." Long saidThe approval by Sydney Central Planning Panel means Mirvac can now proceed with construction of the community facilities, 221 apartments and terrace homes plus the restoration and conversion of the former nurses’ quarters into bespoke, prestige apartments.