Build-to-rent developer Novus is pushing forward with plans to develop its first Sydney project, a $200-million 34-storey mixed-use tower.
Detailed plans for the RotheLowman-designed Novus on Harris on the 1448sq m site at 39-43 Hassall Street, Parramatta, were filed with the NSW state government last week.
Novus co-founder Jason Goldsworthy said the developer was working with the Department of Planning and Environment and the City of Parramatta Council to achieve approval and break ground in the second half of 2023.
The burgeoning build-to-rent developer, backed by M & G Real Estate, acquired the Parramatta site last year for about $33 million, following its maiden development breaking ground at Melbourne’s Southbank.
The Parramatta tower would comprise 204 apartments across Levels 3-34 and a three-storey podium that provides commercial and retail space and a communal amenities floor.
Parramatta is fast becoming the heartland for build-to-rent in Sydney with the Gurner’s GQ platform winning approval for its 61-storey 391-apartment build-to-rent tower last week and Home’s 47-storey 428-apartment tower under construction.
Goldsworthy said there were three key thematics underpinning the success of Novus on Harris—infrastructure tailwinds, outdoor amenity, and design.
“Parramatta is in the midst of an infrastructure boom that will make it one of the most liveable areas of Sydney,” Goldsworthy said.
“Transport infrastructure … coupled with significant civic, commercial and education investment will make this a highly desirable location for our future residents.
“We analysed a number of opportunities in Parramatta. What stood out to us about this location is it benefits from all the amenity and service of the Parramatta CBD whilst being located in a park-fronting location on the eastern fringe of the CBD … with uninterrupted views back to the Sydney CBD from Level 2.”
Goldsworthy said the renewable energy-powered building would have a focus on health and wellness with a floor dedicated to pools, sauna, steam room and gymnasium.
“The creation of wellness spaces responds to the high focus on health, as well as coworking suites that accommodate the hybrid work lifestyle.
“The amenity offering allows residents to option for a smaller apartment size assisting with current cost-of-living pressures. Each apartment has a well-thought-out design that maximises the amenity, liveability, and functionality of the space.”
Goldsworthy said RotheLowman tipped out other architecture firms in the design competition with its earthy palette and the incorporation of public Indigenous art incorporated into the facade of the building.
The build-to-rent tower will cater to a broad demographic with larger four-bedroom typologies for families and smaller two-bedroom apartments for young professionals.
Goldsworthy said they had undertaken early engagement with tier 2 builders on the Parramatta project and hoped to have the project out of the ground and operational in early 2026.
He said Novus also had other Sydney deals in the works but would not elaborate further.
