Parramatta City Council last week announced the selection of Walker Corporation to undertake the two largest stages of the landmark Parramatta Square development, worth a combined total of $1.2 billion. Following a comprehensive selection process, the developer has been chosen to partner with Council to complete Stage 2 of the CBD project – the Aspire residential tower which is set to redefine the Parramatta skyline.
Council has also decided to appoint Walker Corporation as the developer for Stages 5 and 6 of Parramatta Square – dual commercial towers with the capacity to accommodate the largest and smallest tenants in the market. Work on both projects will commence almost immediately, with the sites to be handed over to the developer in September and full demolition of the existing buildings, including Council’s former administration building at 30 Darcy Street likely to be completed early next year. “This is exciting news for Parramatta and shows the development of Parramatta Square is rapidly gaining momentum,” Lord Mayor of Parramatta Cr Scott Lloyd said. “This is a world-class project which is central to Council’s vision to build Australia’s next great city and the ‘smart city’ of the future. Parramatta Square will provide the foundations for the revitalisation of our city and the Aspire tower, along with the dual towers that will form Stages 5 and 6, are key anchors for this important development.” The $2 billion Parramatta Square development is one of Australia’s largest urban renewal projects. The three hectare site will be home to six new state-of-the-art mixed use buildings and more than 20,000 square metres of vibrant public space. The Aspire tower will be the tallest residential building in NSW. A development application will be lodged for it to rise to a height of 68 levels though Walker Corporation will continue negotiations with the Federal Civil Aviation Safety Authority for approval to exceed the existing flight path ceiling, which would allow it to rival the tallest buildings in Australia. Stages 5 and 6 of Parramatta Square will involve the construction of premium office space offering flexible floor areas and work spaces in sustainable buildings in the heart of the Parramatta CBD. Walker Corporation will manage leasing arrangements and residential sales for the new buildings and is already in discussions with several prospective tenants for the marquee properties. Chairman of Walker Corporation, Lang Walker said the project will redefine the City of Parramatta. “Our experienced team has invested a significant amount of time and effort into the conceptual design and vision of the entire precinct which puts us in a good position to get started quickly on this large-scale transformational development,” Mr Walker said. Development applications for Stages 2, 5 and 6 of Parramatta Square are expected to be lodged before the end of the year. Applications for the demolition of 30 Darcy Street and Council’s Civic Place Library building were approved in May this year to speed up the development process by enabling Council to provide the sites ‘shovel ready’ for development.