The joint venture between Mirvac and John Holland – WL Living – has received planning approval for its 26-storey co-living scheme at 150 Cope Street, as part of the ongoing transformation of Sydney’s Waterloo Metro Quarter.
Designed by Bates Smart, the approved $124m scheme comprises 500 apartments. It replaces an earlier Build to Sell development that had previously been approved for the site, which forms part of the $900m Waterloo Metro over-station redevelopment.
The approval follows a broader revision of the precinct’s masterplan in 2025, when the developers moved away from a mix of office and traditional apartment uses in favour of a greater focus on alternative living products.
Under the revised plans, the 2,800 sqm site will accommodate 14,480 sqm of co-living floorspace, alongside a 2,254 sqm childcare centre, creating a total gross floor area of 17,444 sqm.
The development is intended to respond to changing housing demand. It will target the growing number of single-person and couple households seeking well-connected accommodation close to transport and employment.
Planning documents state the development will contribute a more diverse housing offering within a high-amenity location while also providing accommodation suited to residents transitioning from student housing and offering additional flexibility to help meet housing demand.
The approval forms part of a broader repositioning of Waterloo Metro Quarter, where the northern section of the precinct was originally planned to deliver approximately 34,000 sqm of commercial office space.
However, according to the proposal, the office component attracted limited tenant demand despite being actively marketed since 2020. As a result, a previously approved 17-storey commercial building is now also subject to a separate proposal that would replace the office development with two residential apartment towers, further increasing the precinct’s residential focus.
The latest approval comes as the surrounding Waterloo precinct continues to attract significant investment across a range of residential asset classes.
