Parramatta apartments, retail to be built above McDonald’s
Australia’s largest residential developer Stockland is pushing ahead with an apartment project that will see up to 350 units created above a McDonald’s in western Sydney’s Parramatta.
The property giant is planning the mixed use project as it focuses on affordable homes near current and planned infrastructure.
Stockland CEO Mark Steinert last week said large-scale infrastructure spending would help address housing affordability by opening up suburban areas.
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The new project will include more than 1500sqm of retail and services space with a revamped McDonald’s that includes two levels of seating, a McCafe, a carpark, drive-through and play equipment.
The apartments will range from one to three bedrooms. The project is subject to rezoning and planning approvals.
The site on the corner of Church St and Victoria Rd is near the Parramatta city centre, the new Western Sydney Stadium news under construction and a future light rail stop.
“This project aligns with our residential strategy to develop high quality, liveable, affordable and walkable homes in a community setting, and pending approvals, enables us to expand our exposure to the Sydney apartment market,” Steinert says.
“This partnership presents an opportunity to progress our apartments strategy in a connected urban area with significant infrastructure investment and development underway, and schools, university and a hospital nearby.”
McDonald’s development director Josh Bannister says the group is confident customers would love the new restaurant.
This article originally appeared on www.theaustralian.com.au/property.
