28 July 2014 — The first precinct in Mirvac’s Harold Park redevelopment in Sydney’s inner west suburb of Forest Lodge has been officially opened, with the developer saying the interest that has been generated is a sure sign there’s a strong market for sustainable, high-density city living.
The residential precinct, Locarno, which includes 298 apartments and terraces, was opened by Sydney Lord Mayor Clover Moore on Thursday, and is the first of six precincts to be completed.
Mirvac chief executive and managing director Susan Lloyd-Hurwitz said the urban renewal project balanced density, sustainability and quality of life.
“As a developer we are very conscious that through design, planning and construction methods we can make a difference,” Ms Lloyd-Hurwitz said.
“Harold Park scores highly on both social and environmental sustainability measures and exceeds BASIX targets by 25 per cent. That in turn means it offers a better quality of living for residents and becomes an asset for the whole community.”
Demand for apartments in the redevelopment has been high, with the most recent precinct release – Altivolo – selling out in a day.
“Sales have been extremely strong throughout the life of the project, and with more than 900 sales to date we are clearly delivering homes that people want to live in,” Ms Lloyd-Hurwitz said.
“Sydney has a growing population and we are seeing a shift to higher density living. People are preferring to live in locations close to employment, recreation and major transport nodes and are moving towards a more sustainable way of living.”
On completion, the redevelopment of the former harness racing site will see around 2500 people in the 10.6-hectare space, with 3.8 hectares set aside for the City of Sydney to develop parkland, which will be part of a continuous 20-hectare green corridor linking to the Sydney harbour foreshore.
The redevelopment is due for completion in 2017.