JULY 2023 | AS FEATURED ON THE URBAN DEVELOPER HERE
Coronation Property has upscaled its Merrylands masterplan as it marked a major building milestone at the project.
Coronation has applied to add another 73 apartments to its massive residential mixed-use project, which would bring the total up to 849 residential apartments.
Of the apartment mix, 129 will be studios, with 261 one-bedroom and 442 two bedroom units, with the remainder comprising three bedrooms.
The project consists of 40,000sq m of build-to-rent, 30,000sq m of build-to-sell and 9000sq m of retail.
The modifications, which Coronation expects to hear back on by the end of the year, will add three and four additional storeys to Buildings D and E, as well as allow adjustments to the layout and design of landscaping and some residential units.
Coronation acquired the 12,418sq m site in early 2020 from Stockland, which has a total project value of $646 million.
Coronation marked a major milestone this month, topping out its first tower at the development, Mason & Main, which it says is Sydney’s largest build-to-rent development.
The 25-storey Building A will deliver 229 build-to-rent units, out of the 434 total which will be allocated as build-to-rent. It is part of Stage 1 of the development, which will consist of Buildings A, B and C, and is due to complete in early 2024.
Stage 2, which the current modification application covers, is forecast to complete in late 2024.
“Our ultimate objective is to deliver an enhanced rental experience that caters to the ever-evolving needs of residents,” Coronation Property managing director Joe Nahas said.
Coronation has a bank of developments in the works, including Charlie Parker in Harris Park, which it says is scheduled for completion by late 2023, a hotel and residential tower at 8 Phillip Street in Parramatta and a $1.5 billion, 5haurban renewal precinct in Erskineville.
The rapid development of the Merrylands suburb is expected to continue with high demand for housing within close proximity to the major regional centre of Parramatta, Coronation said.