Australian developer and builder – Coronation Property – officially marked the start of construction with a ‘sod turn’ for the first approved stage of its $2bn Erskineville master-planned housing community, which is one of Australia’s biggest Build to Rent projects. The first stage comprises six terrace houses.
Today’s event was attended by Lyall Gorman, Evolve Housing Group CEO; Brett Manwaring, Evolve Housing Group CFO; Coronation Property’s Executive Team; Project Partners and consultants, with a Welcome to Country and Smoking Ceremony organised by the Metropolitan Local Aboriginal Land Council.
The Erskineville scheme will deliver over 1,300 Build to Rent homes, of which 200 will be allocated to affordable housing for key workers including nurses, paramedics, teachers and aged care workers.
Earlier this year, Coronation partnered with Evolve Housing, one of the largest community housing providers in NSW and the largest provider of affordable housing to manage the 200 properties.
Coronation’s Owner, Joe Nahas expressed the team’s excitement to be ‘turning the first sod’ at Erskineville – the latest addition to its robust pipeline of new Build to Rent and build to sell housing communities to be delivered across the Sydney metropolitan area.
“This is the first significant milestone to deliver our vision for this multi-stage urban development, we look forward to working closely with the City of Sydney to realise our plans for a vibrant, new neighbourhood, so close to the CBD.
“We are also proud that Coronation is partnering with leading Community Housing Provider (CHP), Evolve Housing, to provide 200 apartments in the precinct as ‘affordable housing’, providing a secure supply of high-quality, discounted rental properties for eligible low-to-moderate income earners, including frontline workers at Royal Prince Alfred and St Vincent’s Hospitals.”
Joe Nahas, Owner, Coronation Property Group
Amenities at the Erskineville Build to Rent development will include rooftop communal spaces, an activated dining and wellness precinct, curated retail space, public art, shared pedestrian and cycling pathways and diverse green communal spaces, including the future 7,500 sqm ‘McPherson Park’.
Coronation’s stand-alone subsidiary company, Nation, will operate the Erskineville project, which is slated for completion by 2027. Nation is projected to operate around 2,000 apartments by 2027.
“Today marks a significant step forward to increase the supply of new, affordable housing options for essential workers and lower to moderate income earners, who might otherwise find it difficult to afford a suitable rental property in Australia’s most expensive capital city.
“Evolve Housing recognises its responsibility to play a role in increasing the supply of affordable housing and we look forward to working together with Coronation to achieve this.”
Lyall Gorman, CEO, Evolve Housing
The site – which is located on the former industrial site at 155 Mitchell Road – will be transformed into a new lifestyle destination for the inner-city.
Located just 4km from Sydney’s CBD and close to transport hubs, universities, schools and major hospitals, the Erskineville project aligns with the Minns Government’s reforms aimed at delivering new homes in well-serviced urban areas.
Throughout the life cycle of the Erskineville project, it is estimated that approximately 8,200 direct and indirect jobs will be created. This is based on Housing Australia’s research which shows that $1m in construction output supports on average nine jobs across the economy.
This news follows the company’s other Build to Rent project updates this year, including Coronation Property’s launch of its Charlie Parker development in Parramatta City, the official opening of the Mason & Main development, and the company exchanging on the St Peters site in Sydney.
