This article is from the Australian Property Journal archive
AUSTRALIA YMCI has received development approval for the first three towers of its Ovation Quarter residential project next to Sydney Olympic Park.
The towers will include a total of 421 high-end one, two and three-bedroom apartments and six retail spaces, and account for half of apartments in the first stage. Ovation Quarter will comprises around 3,000 apartments in total.
“The NSW Government has identified Sydney Olympic Park as a priority growth area, with long-term investment into infrastructure, jobs and lifestyle amenity planned,” AYMCI spokesperson Ary Bornoush said.
AYMCI has already begun demolition on the site, which is also positioned close to 430 hectares of parklands and a proposed school.
The group is the Australian arm of Chinese developer YMCI and has engaged Australian firms including architects Kann Finch and landscape Environmental Partnerships for the project.
One of the approved towers, Emerald, has released its final stage of apartments for sale, with one, two and three-bedroom offerings available following a soft-launch in March. The next stage of apartments will go on sale next year, and the buildings are tipped for completion by 2020.
Mirvac recently received the green light from the Department of Planning and Environment for its $292 million mixed-use development in the area, which includes 705 new homes and retail across four residential apartment buildings.
Earlier this year, NSW Planning Minister Anthony Roberts approved Ecove’s 39-storey, 229-apartment mixed-use Boomerang Tower.
Sydney Olympic Park will soon be connected northwards with Parramatta upon completion of the Parramatta light rail project.
Australian Property Journal
