A 10.6-hectare precinct spanning multiple blocks across Cope, George, Pitt and Wellington Streets in Waterloo is undergoing a state-led rezoning to deliver over 3,000 dwellings with a 50% social and affordable housing split.
The proposal by Homes NSW and Stockland sets a maximum gross floor area of 282,000 sqm across buildings ranging from 2-33-storeys, alongside 10,000 sqm of non-residential uses and 5,000 sqm of community facilities.
The Sydney LEP currently permits up to around 286,000 sqm of floor area with design excellence, but the existing height limits and the Design Guide envelopes don’t align. The result is a shortfall of roughly 20,000 sqm of deliverable floor space and fewer social and affordable homes than intended.
The rezoning instead redistributes floor space across the precinct and adjusts building heights to match the Design Guide envelopes. No increase to the total floor area is proposed.
The concept scheme sets the tenure mix at a minimum 30% social housing, around 20% affordable housing and up to 50% market housing, with staging across six development blocks.
The site is currently occupied by 729 social housing dwellings and sits 3km south of the Sydney CBD, within walking distance of the Waterloo Metro, Redfern and Green Square stations. It directly connects into the broader renewal corridor anchored by the Waterloo Metro Quarter and surrounding inner-city redevelopment.
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