Novus has revealed the design for its build-to-rent tower in Parramatta.
The developer has selected a design by architecture firm Rothelowman for its Novus on Harris project at 39-43 Hassall Street.
The site, which also has frontage to Harris Street and Thomas Reserve, was acquired earlier this year.
The second acquisition for the Novus Group under the Novus Build to Rent Trust in partnership with M & G Real Estate, it has an estimated end value of $210 million.
The plan feature a 34-storey tower with a mixed-use precinct comprising more than 200 apartments, retail and commercial space, and health and wellness amenities.
The ground floor is just above street level with the main lobby area and communal facilities for residents on the second level.
The building’s rooftop will have terraces, sundecks, barbecue areas, yoga and picnic lawns, and a private dining space and lounge.
Two Parramatta locals, Teribelang-Bunda artist Geoff Sellman and designer Simon Alexander Cook, were consulted during the project’s design.
Rothelowman will design the entire project in partnership with town planners Think Planners and plans are scheduled to be filed with the City of Parramatta council before the end of the year.
Novus hopes to begin construction on the project, pending planning approval, in mid-2023.
Parramatta is experiencing an influx of investment and development as NSW advances its three capital approach and expands its urban infrastructure and housing planning initiatives.
Novus co-founder and chief development officer Jason Goldsworthy said the project would fill an existing need.
“We also look forward to continuing the collaboration with the City of Parramatta and NSW Department of Planning and Environment to deliver much-needed housing into an environment where residential vacancy is extremely tight, and the future supply of housing being delivered is very limited,” Goldsworthy said.
“The delivery of Novus on Harris aids in our mission of creating homes for 10,000 people.”
Novus’ first acquisition under the Novus Build-to-Rent Trust was Novus on Sturt in Melbourne at Southbank at 153 Sturt Street, comprising 173 apartments and a rooftop pool, sauna, steam room, work-from-home facilities and meeting and function rooms.
It was also designed by Rothelowman.
Meanwhile in Melbourne, build-to-rent giant Greystar has started construction of its $500-million, three-tower project at 15-85 Gladstone Street at Southbank.
It will comprise 700 new apartments. The Fisherman’s Bend project will be fossil-fuel free during its development and then be powered by renewable-energy sources during its operation.
The project will provide housing for up to 1500 residents at a time when Melbourne’s demand for rental housing has skyrocketed and vacancies have fallen.
