The Government of NSW awarded to the John Holland – Mirvac joint venture a AUD 299 million (USD 205.7 million) contract to deliver the new Waterloo station and an integrated development above it, part of Sydney Metro City & Southwest project.
As part of a value capture agreement on Sydney Metro, the NSW Government will receive AUD 106 million (USD 73 million) from the joint venture for the air rights to develop the site.
Waterloo is one of five new Sydney Metro stations that will be integrated with the areas around them. Waterloo Station is an underground station, about 25 metres below ground level, in the heart of the Waterloo precinct. The station will include new pedestrian crossings, taxi bays, bike parking, kiss and ride bays as well as bus connections.
The new station will be a landmark in its own right and will transform the Waterloo area. Waterloo Station will give customers more public transport options and improve connectivity across and in the city.
The JV will deliver the Waterloo Metro Quarter project which also comprises five building envelopes including three towers and two mid-rise buildings above and adjacent to the station. Under the plan, at least five per cent of homes will be affordable housing and 70 apartments will be set aside for social housing. There will be new community facilities, more trees planted, retail and office space and two new public plazas at Cope Street and Raglan Street.
The project will create more than 2,000 jobs and is expected to be completed around the time Sydney Metro City & Southwest opens in 2024.
Share on:
