The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
InfrastructureStaff WriterTue 15 Dec 15

Waterloo Metro Good For Urban Renewal: Urban Taskforce

w

The Baird Government has announced that it will put its new inner city station on the new Sydney Metro line at Waterloo, and not at Sydney University.

Waterloo, which is north of Green Square and east of Redfern, surrounds a 13 ha social housing estate including around 2000 homes.

Minister for Social Housing Brad Hazzard, said the estate's social housing would be redeveloped.

"The Metro station will transform the Waterloo housing estate for the better, building a dynamic community with better amenity, better homes, better facilities, fantastic transport and more jobs," Mr Hazzard said.

The announcement by the NSW Government was welcomed by the Urban Taskforce but it expressed concerns that a proposed housing tax would lift prices.

“The decision to choose Waterloo over Sydney University is the right one to drive urban renewal,” Urban Taskforce CEO, Chris Johnson said.

“We are however very concerned that a contribution tax of $20,000 for each new apartment is proposed based on the Parramatta Light Rail approach. Any further taxing of new homes will be passed directly onto new purchasers.”

“The Urban Taskforce is also concerned that the NSW government will want private developers to fund the rebuilding of the 2,000 existing social housing units as part of the urban renewal of the Redfern Waterloo estate."Developers who are expected to benefit from the decision in the short term include Mirvac, Deicorp, and two Chinese developers, JQZ and Dahua.

The Government has required the private sector to fund new social housing in urban renewal developments at the Riverwood and Ivanhoe Estates and to subsidise this through new private housing.

The Government’s Draft Redfern Waterloo Built Environment Plan 2 calls for a mix of private and social housing and implies that the private development can subsidise the social housing.

“The price of new housing will go through the roof if it has to fund rail infrastructure and social housing," Mr Johnson said.

"While the new apartment market has been booming in the last year there are signs that this is tapering off. The NSW Government must be very careful about adding too many taxes to the apartment development market as they will end up killing the goose that laid the golden egg.”

ResidentialRetailIndustrialHotelAustraliaPlanningPlanningSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Without the $135.98-million injection it is claimed the Logan City Council would have had to stop approving new housing …
LATEST
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/waterloo-metro-good-urban-renewal-udia