Consortium comprising Frasers Property Australia to redevelop Sydney estate
By Angela Teo
/ EdgeProp |
On Aug 14, the Aspire consortium, comprising Frasers Property Australia, Mission Australia Housing and Citta Property Group, announced that it has been appointed by the New South Wales government to redevelop the 8.2ha Ivanhoe estate in Sydney’s Macquarie Park, under a project development agreement.
Within the redevelopment, private housing will be seamlessly integrated with at least 950 new social housing dwellings and 128 affordable homes. In addition, the project will have a new high school, residential aged care facility with a senior’s wellness centre, and two childcare centres.
Frasers Property Australia and Citta Property Group are set to bring their expertise in designing and delivering integrated communities on board, while Mission Australia will contribute their expertise on the social housing model.
With an estimated end value of $2.2 billion, the project will be a “model for an inclusive and integrated community that provides homes and a community for people from varied socio-economic backgrounds,” says Mission Australia’s CEO Catherine Yeomans.
Source: Frasers Property Australia
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