There are big changes afoot in Waterloo.
The new metro station, only three years away from completion, is the catalyst for some hefty redevelopment and revitalisation plans.
We take a look at the top four projects set to shape Waterloo’s future, bringing new buildings, town centres, housing, transport and other amenities to our area.
Sydney Metro – Waterloo Station
As part of the biggest urban rail project in Australian history, Waterloo is getting its own Metro station.
Waterloo Station will be one of six new stations on the City & Southwest line, which will see new metro rail built from Chatswood, under the harbour and through the CBD to Bankstown. Construction is well underway, with completion expected in 2024.
The new Metro will provide a fast and reliable link from Waterloo to the CBD and North Sydney, promising travel times of just 2 minutes to Central, 6 minutes to Martin Place and 8 minutes to Barangaroo. It is designed to work in tandem with bus services along Botany Road to allow for further development of the corridor between Sydney CBD and Green Square.
Waterloo Metro Quarter
Integrated with the new Waterloo Metro Station is the development of Metro Quarter, delivering new homes, shops, services and a public plaza above the station.
The Metro Quarter precinct, enclosed by Botany Road, Cope Street, Raglan Street and Wellington Street, is set to deliver up to 700 new homes, including up to 20 per cent social and affordable housing, above the station. There are plans for childcare, health services, shops and eateries, creative and cultural spaces, and improved open areas including new walking and cycling paths, more trees and wider footpaths.
The Waterloo Estate
Cross Cope Street from Waterloo Metro Quarter and you’ll arrive at the Waterloo estate, the next part of the suburb slated for redevelopment. A 12.32 hectare portion of the estate, known as Waterloo south, will be the site of a mix of new private, social and affordable housing under the NSW Government’s Communities Plus program.
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The proposed design put forward by the City of Sydney includes around 3000 dwellings, approximately half of which will be private homes, with the rest a mix of affordable and social housing. There are plans for a large park next to Waterloo Metro Station and spaces for community facilities, retail and commercial uses. There will be a new main street, and wider and more accessible streets and walkways. More of the buildings will be medium rise and the few planned towers will sit at the southern edge of the estate to reduce shadowing.
City of Sydney is now completing their assessment of the plans, with a period of community consultation to follow. Construction is set to take place between 2023 and 2032.
The revitalisation of Green Square, one of Australia’s largest urban renewal projects, has been underway in the south part of Waterloo, as well as across Beaconsfield, Zetland, Rosebery, and Alexandria, since 2007.
Green Square, with its inner-city heritage and charm, is being reimagined as a modern and sustainable place to live, work and play.
Thirty thousand new homes are expected in Green Square by 2030, and the area’s population of 33,000 is predicted to grow to 74,200 by 2041 as the new residential developments are completed.
The Green Square town centre, the first new town centre in the City of Sydney in a century, has been awarded the highest possible sustainable community rating from the Green Building Council of Australia. The City of Sydney has spent $540 million on building world-class community facilities, including Green Square Library, opened in 2018, and the state-of-the-art Gunyama Park Aquatic and Recreation Centre, newly opened in February 2021. The development also includes a childcare centre, cultural precinct and 6,200 square metre park, as well as infrastructures such as roads, footpaths and a transport corridor for future light rail.
If you’re interested in buying, selling or renting a property in our local area, contact us today.