Sydney developer Payce Consolidated, designer Turner and the NSW government have replicated the winning formula of using public private partnerships to increase housing supply, coming together to build a four-hectare social and private housing project in Washington Park, Riverwood in Sydney’s southwest.
The $250 million project is similar to the the Ivanhoe estate in Macquarie Park in Sydney’s north shore where the NSW government offered land to private developers for development of both social and private housing. Washington Park will yield 850 social and private dwellings.
The masterplan site was initially earmarked only for social housing but due to an up-zoning the NSW department of planning which offered more density, Payce Communities was be able to build 150 social homes as well as 650 private apartments which they would sell and profit from.
The project which includes the construction of a public domain is near completion.
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