Mirvac tops out three Green Square apartment projects
The ASX-listed Mirvac has officially topped out the main structures of three residential apartment buildings at Green Square in Sydney’s Zetland, signalling the near completion of 311 new homes as part of one of the largest urban renewal projects in Australia.
They simultaneously topped out The Frederick, Portman on the Park, and Portman House, which have a combined construction value of over $210 million.
Over 80% of the apartments are already sold, to a mix of owner occupiers, young first home buyers and investors.
Mirvac CEO Development Stuart Penklis said the completion of the three buildings forms a significant milestone for the ongoing evolution of Green Square from one of the city’s oldest industrial suburbs to Sydney’s first new town centre in more than a century.
"The new community we are delivering in partnership with state and local government at Green Square has already contributed homes for over 1,000 residents, and these three new apartment buildings will see a further 685 residents calling the precinct home by the end of 2023," Penklis said.
“On completion, Mirvac will deliver more than 1,600 apartments in Green Square, along with state-of- the-art office and vibrant retail spaces, and substantial public spaces within the Green Square Town Centre.
"The precinct is close to public transportation, healthcare, education, and community services and promotes social inclusion and diversity and fosters a sense of community among its residents."
Penklis said Green Square is a great example of government and industry coming together to not only generate more places close to the city for Sydney-siders to call home, but also foster a community that will meet the needs of its residents for years to come.
"This commitment could not be more important as we play our part in resolving the most significant housing crisis of our generation.”
Green Square by Mirvac has been coming to life for over nine years, and the precinct is now home to a library and Civic Plaza, as well as the 6,200 sqm Drying Green, Gunyama Park Aquatic and Recreation Centre, Green Square train station, Joynton Avenue Creative Centre, Goodstart Waranara Early Education Centre and over 40 parks.
The Green Square Public School, which will cater to 600 primary students, commenced construction in August 2022.
Landcom, the NSW Government's land and property development organisation, and Mirvac began working together on the Green Square urban renewal project in 2012. In October 2020 Mirvac began acquiring Landcom’s ownership of the future stages of Green Square Town Centre.
Lord Mayor of Sydney, Clover Moore, said the $13 billion Green Square precinct renewal was one of the City’s greatest challenges, but also one of their greatest successes. By 2030, it will have 70,000 residents and 22,000 workers and will still be growing.
“Safe, secure and affordable housing for essential workers and for those on low and very low incomes is essential for a cohesive and economically successful city," Moore said.
“Mirvac’s Green Square mixed-use apartment complex is the result of a design competition which resulted in four buildings containing more than 300 homes and retail spaces and a contribution to affordable housing."
The Frederick is the tallest of the trio of buildings at 23 levels. That has been designed by Smart Design Studio in collaboration with Mirvac Design and will home 151 apartments with views of the Sydney CBD. It is also home to a resident only Business Studio, a Wellness Studio, and Sky Lounge, a bookable private dining space exclusive for residents and their guests.
The Portman Collection comprises Portman on the Park and Portman House and was designed by certified carbon neutral architectural practice CO-AP in collaboration with Mirvac Design.
Portman on the Park includes 116 apartments, many with dual aspect views of Sydney’s CBD and the Drying Green, which maximise the free flow of air and capture natural light. Portman House is a boutique offering of 44 apartments across 12 levels, just four apartments per floor.
Mirvac has also started construction on the nearby Portman St Terraces, designed in collaboration with Smart Design Studio.
Drawing inspiration from the surrounding traditional Victorian terraces, these seven, contemporary spacious homes feature open plan living, four bedrooms, rooftop entertaining deck, courtyards and flexible family room.