Saturday, 26 April 2008

Developer negotiates a new approval

St Hilliers Property has negotiated a new DA with the Ryde Council for a 10 per cent increase to the lettable area of its proposed 32,000-square-metre commercial development, in North Ryde, which has an end value of more than $140 million.


Push for affordable housing

Parramatta City Council officers believes the best opportunity to progress the development of affordable housing in the city is through a partnership with a community housing provider, which is eligible to apply for funding through the NSW Government’s Affordable Housing Innovations Fund. Councillors will consider the recommendation. The UWS Urban Research Centre is currently undertaking research to develop a model for the sustainable delivery of affordable housing using Parramatta as a study. Results are expected by August 2008.


Brandsmart redevelopment proposal

Representatives of the owners of Brandsmart Shopping Centre, on the former DJs shop in Church Street and facing the Parramatta River, have had discussions with Parramatta City Council regarding an intention to redevelop the centre and a possible joint development on adjacent council-owned land. Brandsmart has a lease until 2061 on a multi-deck car park.


UWS engagement with the community

The UWS Office of University Engagement has advertised for a manager for the office, at its Parramatta campus, reporting to the Pro Vice-Chancellor (Engagement). The office facilitates mutually-beneficial partnerships. Between the university and its external communities, in shared work that strengthens the teaching and research functions of the university, while also addressing community needs and priorities.


Potential council redevelopment properties

Parramatta City Council holds developable land portfolio worth in the order of $200 million, of which a number of properties are being investigated for their development potential. These include: a) the 10,812 square-metre David Frater Car Park, facing the Parramatta River in the CBD, and valued at $71.2 million. Adjacent owners have approached council with a view to a joint proposal, b) the 10,000-square-metre Horwood Place Car Park, valued at $24.4 million. A major commercial redevelopment with adjoining owners was possible in a public-private partnership, c) the 3308-square-metre Fennell Street property, valued at $4.6 million, which could be a commercial and residential redevelopment with a major anchor tenant.

Retail vacancies in Parramatta CBD

An analysis of the retail sector, excluding Westfield Parramatta, shows a 15 per cent vacancy rate across the CBD, according to Parramatta City Council referring to a Knight Frank report. The vacancy rate in the arcades was above 20 per cent.