Construcciones Yamaro: PAYCE project to boost Sydney’s affordable rental stock

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PAYCE project to boost Sydney’s affordable rental stock
Artist’s impression: PAYCE’s Melrose Park development. (Images: PAYCE)

Sydney developer PAYCE has received planning approval for a 351-apartment development in Melrose Park.

The NSW Department of Planning has granted rezoning and development approval for the Hope Street development, which will include 197 units and 154 co-living units.

Evolve Housing will own the 197 units, which will be leased as affordable housing under the Australian Government’s Housing Australia Future Fund (HAFF). The homes will contribute to NSW’s delivery targets under the National Housing Accord.

The 154 co-living units will provide rental accommodation for more than 700 residents.

PAYCE chairman Brian Boyd said the project will boost affordable rental accommodation in an area with strong demand and amenity.

“The project is situated within 100 metres of the new Parramatta Light Rail Stage 2, currently under construction, which will provide a much-needed transport link to not only the new Sydney West Metro at Sydney Olympic Park, but also connectivity to both the Sydney and Parramatta CBDs,” said Boyd.

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PAYCE project to boost Sydney’s affordable rental stock Two

The $800 million Melrose Park Town Centre, located 100 metres from the site, will include a 30,000 square metre retail shopping centre for Melrose Park residents and is expected to open later this year.

The development will also be within a 400-metre walk of the new Melrose Park High School, which will cater for 1,000 students, and the expanded Melrose Park Public School, which will cater for 700 students. Both schools are expected to open at the start of Term 1, 2027.

Evolve Housing Group CEO Lyall Gorman said the 197 homes planned for Melrose Park form part of 1,094 new affordable homes Evolve Housing will deliver through the HAFF.

“These homes will provide people with greater stability and the opportunity to live close to employment, education and essential services,” said Gorman. “Projects like this demonstrate the importance of strong partnerships, and we are proud to work with PAYCE and Housing Australia to deliver housing that makes a lasting difference for people and communities.”

The project is expected to be delivered in late 2028.

The post PAYCE project to boost Sydney’s affordable rental stock appeared first on Inside Construction.



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