Parramatta Blog

The landscape of North Parramatta is on the brink of a significant transformation as the area undergoes a comprehensive rezoning. This shift will not only impact the immediate area but ultimately surrounding suburbs too. Last December, it was announced that Parramatta’s Church Street North precinct will allow the construction of up to 1,800 new homes. This initiative is part of the NSW Government’s effort to revitalise an “ageing area” and address the ongoing housing supply crisis.

The rezoning is expected to support the rapid growth of Parramatta’s CBD and the renewal of the precinct, while also enhancing protections for the open spaces at Prince Alfred Square and the Parramatta River foreshore. According to the NSW Government, the new regulations will build on the City of Parramatta Council’s CBD Planning Proposal which reflects the changing needs of the precinct’s population. The changes to the State Environmental Planning Policy Amendment (Church Street North Precinct) will apply from 1 July 2024, giving the City of Parramatta Council time to make sure the right Development Control Plan (DCP) and local infrastructure framework are in place.

Minister for Planning and Public Spaces, Paul Scully, stated that the rezoning will address the housing crisis in NSW by delivering “hundreds of well-located homes close to public transport, schools, jobs, parks, and shops”. The Property Council of Australia has welcomed this decision, recognising “the greatest opportunities” and potential to deliver more housing in “a highly liveable location”. The precinct, situated at the doorstop of the Parramatta CBD, boasts immediate proximity to good public amenity such as Prince Alfred Park, CommBank Stadium, Church Street, Eat Street, and the Riverside Theatre whilst being surrounded by a wealth of transportation options.

Today’s rezoning means developers can get on with the job of renewing a precinct which after more than a decade of planning, consultation and deferral has become quite tired and worn down. These changes will increase the appeal of the area as well as contribute to property appreciation. Height limits and maximum allowable floor-space ratio within the 17-hectare land strip around Fennell St and Prince Alfred Square light rail stations will all increase also allowing specific buildings to reach up to 30 stories along Church St.

In summary, the rezoning of North Parramatta marks a significant step forward in shaping the future of this vibrant community. The proposed area is poised to further become a dynamic hub that fosters growth, connectivity, and a higher quality of life for all its residents and businesses. This coupled with a once in a lifetime pipeline of infrastructure projects such as Light Rail, Metro Railway, West Connex to note a few, makes this precinct of Parramatta some of the best buying opportunities right now!

To find out more about selling opportunities in this locale, call now for a confidential discussion about your requirements.

*WRITTEN BY JAYDEN AYOUB | COMMERCIAL SALES & LEASING