Leighton Holdings and Charter Hall have formally commenced construction of their One Parramatta Square building, part of a massive urban renewal project to revitalise the Parramatta city centre.
The 14-storey, $220.5 million, 26,500 square metre A-grade 1PSQ in Sydney’s west will be the flagship campus for the University of Western Sydney, and has been designed to achieve 5 Star Green Star Education v1 Design and As Built ratings, while the larger urban renewal project is after a Green Star – Communities rating.
The building is owned by two of Charter Hall’s managed funds and is being developed by Leighton Properties and built by John Holland.
NSW premier and minister for Western Sydney Mike Baird and Lord Mayor of Parramatta Scott Lloyd turned the first sod to mark the official start of construction at a ground breaking ceremony earlier today (Wednesday).
“We are thrilled that construction commenced today on such a significant development in the centre of the Parramatta CBD,” Mr Baird said. “Parramatta is the geographic heart of Sydney and with the revitalisation of its CBD, residents of the surrounding area will now have the opportunity to work and study close to where they live. The construction of this project will provide hundreds of jobs and will continue to do so into the future.”
Mr Lloyd said the start of construction was a milestone in the rollout of the $2 billion Parramatta Square urban renewal project, which will include two commercial towers, a 65-storey residential tower, a 150-room hotel and community facilities.
“We are proud to be working with UWS, Leighton Properties and Charter Hall to deliver this innovative new campus in the heart of our CBD, minutes away from public transport links including the new Western Sydney light rail,” Mr Lloyd said.
“The campus will help make Parramatta a true university city, further boost our reputation as a centre for education, research and technology, and help attract the high end jobs of the future.
“Parramatta Square is a key part of our vision to build Australia’s next great city and will be a vibrant hub for people in Western Sydney to meet, work, learn and experience our city’s great cultural diversity.”
Construction is expected to be completed in late 2016 for the first semester of University in early 2017.