The projects, if approved, will provide about 6,000 apartments which will see, if the 10% of Over 55s renting at Mirvac’s LIV Indigo is a consistent figure, 600 people who should be looking at retirement living going elsewhere.

Australia’s retirement living sector captures approximately 6% of over-65s, whereas New Zealand’s retirement sector supports 13% of its population aged over 75.

The only development currently recommended for approval is Gurner and Qualitas’ 61-storey mixed use building with 391 Build to Rent (BTR) apartments, five levels of basement carparking, and a four-storey podium providing commercial floorspace and residential amenities in Hassall St, Parramatta.

Novus, founded by former Mirvac executives in conjunction with Aliro Group in May last year, has its 34-storey mixed use project also in Hassall St, Parramatta, with 204 BTR units, three-storey retail and commercial podium and a three-level basement car park with 84 car spaces, rooftop terrace and communal open spaces, under assessment.

It is the only planned development at assessment stage. The Novus plan still has two of the eight stages of the State Significant Development.

483 rental apartments are planned for five buildings of four-, six- and eight-storeys with 50% of apartments designated for affordable housing by Pacific Community Housing and 50% for long-term renters through a BTR model in Gregory Place, Harris Park, neighbouring Parramatta. It is at the submissions stage.

Pacific Community Housing is part of a concept development application for Auburn Rd, Regents Park, for five buildings, ranging from six to 13 storeys, with 543 units, 416msq of retail and a 102-capacity childcare centre. There will be 50% affordable housing, rented out at 80% of the market rate. There will be 137 one-bedroom apartments, 258 two-bedroom units and 39 three-bedroom homes.

Property group Aqualand last month announced it wants to build a 40-storey high BTR, with 300 apartments, at its site in North Sydney.

“Whilst the preference for rented accommodation has traditionally been strong with younger generations, the demand for high quality rental product now spans across multiple generations,” said Jin Lin, Group Managing Director.

The NSW Department of Planning has the following State Significant Development BTR applications at the Prepare an Environment Impact Statement (Stage 2):

• Macquarie Park: 725 units across five residential flat buildings, with retail, community uses and recreation areas on ground floor and basement parking,
• Macquarie Park: 594 units across six buildings, with retail, community uses and recreation areas at ground floor level and basement parking,
• Willoughby: Mixed-use with 369 dwellings.
• Homebush: Mixed use development of three buildings with a height range of 21 to 25 storeys. The project includes 481 units, and 1,278msq of retail/commercial floor area.
• Lane Cove: 29-storey building with a mix of BTR housing, commercial office, and retail uses, with basement parking.
• North Ryde: 508 units and ground floor commercial tenancies across three buildings with shared podium, ranging between two-20 storeys, car parking, pedestrian link.
• Parramatta: 316 units, commercial office, and retail space in two towers with an approx. height of 48 storeys, basement car parking and pedestrian link.
• Regents Park Stage 1, 2, 3 4: Over 450 units.
• Parramatta: three buildings, 322 units (50% dedicated to affordable housing), ground floor retail, public domain works and basement car parking.
• Parramatta: 503 units in 56 storey residential tower, six levels of podium for commercial spaces and an Early Learning Centre.
• St Leonards: 276 units in a 29-storey tower with four levels of commercial office space and retail tenancies.
• Chatswood: 220 apartments within a 30-storey building with ground floor retail, residential amenity spaces, basement carparking and associated infrastructure.
• Campsie: Two 25-storey towers supported by lower 8-4 storey linear buildings over a 2-storey podium base. About 320 dwellings of which 50% will be affordable housing and 4,754msq of retail space.

Macquarie Park: Stockland’s first proposed BTR with 485 units across three buildings (pictured).

• Parramatta: Mixed-use building within a single tower comprising BTR housing, affordable housing, student housing (co-living), medical and commercial uses.

All SEARs issued require a development application and EIS for the development within two years.

SEARS for Wolli Creek (9-10-storey BTR in Frasers Property’s Discovery Point) and Cudgen in NSW’s Northern Rivers have applied and been granted a Secretary’s Environmental Assessment Requirements (SEARs).

The SOURCE: BTR developments in NSW receive a 50% reduction in land value for land tax purposes, making them increasingly financially attractive to developers.