The development boom coincides with the adoption of an economic development strategy for the City which seeks to establish Holroyd as The Enterprise City.
The 250% increase in the overall value of development applications has been driven by the introduction of the Holroyd Local Environmental Plan (LEP) 2013, says Mayor Greg Cummings.
The plan came into effect in August 2013 and provides significant potential for new development opportunities focused in seven key precincts in well serviced areas of the city.
“Demand for housing in Western Sydney is very high and market conditions are favourable for development investment,” Mayor Cummings said.
“The new land use zones introduced in the LEP 2013 unlock this potential for redevelopment and this has been evidenced by the fact that Council is on track to receive $1 billion worth of development for the current financial year, which is three times as much compared to any equivalent period prior to the commencement of LEP 2013.”
Mayor Cummings said in the first 18 months of the new LEP more than 4,000 new houses (mostly apartments) had been applied for. He expects the high volume of development proposals to continue.
The development boom is also driving a revitalisation of Holroyd by delivering much-needed housing and commercial projects to cater for the demands of local residents, homeowners, businesses and visitors to the City.
Skyton Developments has owned land in the Wentworthville area for more than a decade. Wentworthville is one area that Holroyd Council has targeted for rejuvenation.
The firm is developing a boutique mixed-use project in the heart of the Town Centre; comprising 68 units, 110 car spaces and retail on the ground floor.
Project Director, Alex Pascoe, says the tide has turned for Wentworthville. “Given it’s a town centre with rail and retail facilities it’s now ripe for development,” he said.
“There seems to be an appetite from (Holroyd) Council for this type of development and we have a good working relationship with them.”
Mr Pascoe expects construction to commence in the next three to four months with units available to purchase off the plan by March 2015.
Major DAs recently approved in Holroyd include:
• 13-15 Neil Street, Merrylands: 8 storey mixed use development containing 87 dwellings/apartments (Value = $18 million).
• 1 Florence Street, Wentworthville: 8 storey mixed use development containing 154 dwellings/apartments (Value = $33 million).
• 1 Addlestone Road, Merrylands: 9 storey mixed use development containing 146 dwellings/apartments (Value = $38m).
• A project yielding more than 1,000 dwellings in buildings up to 16 stories in the Merrylands CBD is also expected to be lodged in the first half of 2015.
Mayor Cummings said the creation of sustainable developments was helping revitalise the City and delivering flow-on economic benefits across the entire community.
"The value of developer contributions from Holroyd’s Section 94 Development Plan alone is expected to reach over $300 million over the next 20 years," he said.
Form a location perspective, Holroyd is uniquely positioned in the heart of central Western Sydney, yet close to Parramatta and the Westmead medical precinct.
It is well serviced by both the Western and South railway lines as well as the Liverpool to Parramatta Transitway.
The major thoroughfares of the M4 Motorway and Great Western Highway intersect the Holroyd LGA and the gateway to Parramatta Road is contained in the eastern end of the LGA.
Merrylands CBD offers great opportunities for developer investment. The new planning controls applicable to the CBD cater for growth of over 5,000 new dwellings in buildings of up to 20 storeys.
“Council is committed to harnessing the growth of Western Sydney and has employed additional officers dedicated to working closely with anyone wishing to develop their property,” Mayor Cummings said.
