Macquarie Park to add more housing to business mix

The NSW government is quietly adopting a new strategy to add housing and mixed-used development to Macquarie Park in Sydney’s north, long known as one of the city’s major centres for business parks.

The Department of Planning and Environment has asked the private sector to investigate ways to provide more housing in the precinct, while acknowledging some land may be compulsorily acquired to make way for more roads and schools.

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Land within walking distance of Macquarie Park, Macquarie University and North Ryde train stations will be reviewed for rezoning, according to the NSW government, which also wants the Macquarie Park precinct to retain its commercial core to ensure greater employment growth.

The government’s Department of Planning and Environment is working with Ryde Council on a strategic review of Macquarie Park to inform the upcoming precinct rezoning proposal.

These priorities point towards the strategic centre evolving from a business park into a higher amenity centre

The department wants private sector project managers and sub-consultants to assist in the pre-rezoning plan for the area, which is bounded by the M2 Motorway and Epping Road, 14km north of the Sydney CBD.

The project manager will procure, manage and co-ordinate specialist consultants for urban design, traffic and transport, economic feasibility analysis and services infrastructure.

“These priorities point towards the strategic centre evolving from a business park into a higher amenity centre with significant employment growth supported by a broader range of land uses,” tender documents state.

“(They will be required to) establish an appropriate take-up rate to be applied for residential development up to 2036, having regard to historical rates, the development pipeline, dwelling capacity and market feasibility.”

The successful proponent will be required to recommend land acquisition requirements for road upgrades and public purposes. The government expects the work to be completed within 26 weeks.

This article originally appeared on www.theaustralian.com.au/property.