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Sydney-based property group Billbergia is boosting its development portfolio on the North Shore with plans for a twin-tower mixed-used project at Macquarie Park, amid a transition of the suburb as a major non-CBD office market into a transport-oriented office and residential precinct.
Billbergia and joint-venture partner Legacy Property have lodged a development application for the project which is expected to deliver 255 apartments atop a three-level podium that will include retail tenancies.
The Macquarie Park proposal builds on the company’s existing North Shore portfolio which includes a twin-tower SOHO (Small Office Home Office) project at Chatswood announced last year.
The latest development is proposed for a 2,400sqm site at 88 Waterloo Road, Macquarie Park, with almost half of the site area to be devoted to communal open space. The site is located within the suburb’s key office precinct.
Designed by architects AJC, the development features two residential towers – named Cottonwood and Waterloo – to be built above the three-level mixed-use podium.
Billbergia says the site offers close connectivity to Macquarie University, Macquarie Park Innovation Precinct and the proposed Macquarie Park Metro Station.
“Macquarie Park is a rapidly evolving suburb that is well-positioned to benefit from increased density,” says Saul Moran, Billbergia’s director of planning and development.
“(The development) will deliver 255 critically needed new homes, serviced by essential retail and the new Metro station, while offering close access to key employment and study hubs.”
The Cottonwood tower will rise 21 levels and deliver 124 apartments, while the Waterloo tower will feature 131 apartments over 19 storeys.
The apartments mix comprises 60 one-bedroom, 98 two-bedroom and 85 three-bedroom apartments, as well as 12 three-bedroom penthouses.
The mixed-use podium includes a proposed 263sqm of retail space at the lower ground floor, as well as four levels of basement parking for up to 288 cars.
AJC notes that the Macquarie Park project’s bioclimatic design is aimed at capturing natural light and ventilation, with the buildings’ north side comprising horizontal balconies to optimise sunlight and airflow, while those on the south side will employ enclosed balconies for protection and warmth during the colder months.
AJC director Brian Mariotti says 88 Waterloo “reflects our commitment to creating exceptional living spaces and will connect urban residents with an oasis of nature in the middle of this burgeoning high-rise precinct”.
“By integrating sustainable design principles with the unique character of Macquarie Park, we are setting a new standard for residential architecture that serves both the environment and the community," he says.
Billbergia is leveraging Macquarie Park’s status as an accelerated precinct under the NSW Government’s Transport Oriented Development (TOD) program announced in 2020.
Macquarie Park Innovation Precinct Stage Two, a recent rezoning proposal by the state government, could see more than 4,600 new homes delivered to the area following new residential zoning and developer concessions on build-to-rent (BTR) projects. The state government proposal is aimed at providing flexibility to use E2 Commercial Centre-zoned land to deliver an additional 5,096 BTR apartments.
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