$1.5 billion housing project planned for Marrickville in Sydney’s inner west

·

The momentum for build-to-rent projects in Sydney is gaining traction, highlighted by a significant $1.5 billion development proposed for the inner west suburb of Marrickville. This project aims to address the housing crisis in Prime Minister Anthony Albanese‘s Grayndler electorate.

The development plans include multiple high-rise buildings and come at a time when housing concerns are emerging as a critical election issue.

The proposal has been submitted by the founders of Scape, Australia’s largest student accommodation provider, whose towers already surround major universities. Their new venture, Rent-to-Live Co, aims to expand housing options nationwide, targeting a goal of 10,000 units.

The developers believe they can navigate the challenges of rising land and construction costs, as well as a sluggish planning system, despite the prevalent anti-developer sentiment in the area.

Stephen Gaitanos.

Additionally, the developer plans to own and manage the entire precinct long-term, which they hope will allow them to provide what they describe as “Westfield standard service meeting a five-star hotel” at affordable prices.

Established in 2023 by Craig Carracher and Stephen Gaitanos, the pioneers behind Scape, Rent-to-Live Co is pivoting to build-to-rent as Australia grapples with a growing rental accommodation crisis, despite various government initiatives to encourage new construction.

The Marrickville site, acquired from long-term landholders under undisclosed terms, will become Sydney’s largest “for rent” property, spanning over 2.2 hectares and featuring more than 1,000 apartments.

Dubbed ‘The Timberyards’, the project will also include over 100 affordable apartments, with roughly half of the ground area designated for public use.

Source: The Australian.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Exciting program revealed for Greek Festival Darling Harbour this weekend

The Greek Festival Darling Harbour will take over the iconic Darling Harbour on February 22-23, offering an exciting two-day celebration.

Kay Pavlou hosts two sell-out screenings in Melbourne for ‘Two Homelands’

Sydney-based TV director, Kay Pavlou, hosted two sell-out screenings of her film ‘TWO HOMELANDS’ at Melbourne's Thornbury Picture House.

Panipirotiki Enosis of NSW marks Ioannina’s liberation with annual dance

The Panipirotiki Enosis of NSW held their Annual Dance to celebrate the 112-year anniversary of the Liberation of Ioannina.

High tea for a cause: St Spyridon Church in SA raises funds for generational project

On Sunday, 9 February 2025, the Hilton Hotel in Adelaide, South Australia, hosted the highly anticipated Saint Spyridon High Tea. 

Food for Thought Network to hold first global International Women’s Day event

On Saturday, March 1, mark International Women’s Day with the Food for Thought Network by participating in an inspiring online event.

You May Also Like

Rosie Velanis shares struggle to buy first home amid Australia’s cost of living crisis

As the cost of living continues to increase, many young Greek Australians like Rosie Velanis are finding it harder to find living options.

Hellenic Lyceum of Sydney amaze Greek community with preview of costume exhibition

Traditional Greek costumes from regions as widespread as Crete, Macedonia, Epirus and Kastellorizo were visible as far as the eye could see at the...

Traditional Greek Recipes: Gigantes Plaki (Giant Greek Beans)

The Greek Herald gives the recipe to the staple Greek cuisine, Gigantes Plaki, just in time for the winter rush.