Walker lands Parramatta Square contract

Walker lands Parramatta Square contractWalker Corporation will build the tallest residential tower in the state and two premium commercial towers after being awarded a $1.2 billion contract with Parramatta City Council.The $2 billion Parramatta Square development is one of Australia’s largest urban renewal projects. The three hectare site will be home to six new mixed-use buildings and more than 20,000 sqm of public space.Walker Corporation will tackle Stage 2 of the CBD project – the Aspire residential tower – as well as the dual commercial towers in Stages 5 and 6. Work will commence almost immediately, with the sites to be handed over to the developer in September and full demolition of the existing buildings, including Council’s former administration building, likely to be completed early next year.Parramatta Lord Mayor Scott Lloyd says the announcement confirms the project is “central to Council’s vision to build Australia’s next great city and the ‘smart city’ of the future.””With a jobs deficit of 200,000 in Sydney’s west, we need projects like Parramatta Square to succeed to close the gap,” says Glenn Byres, the Property Council’s NSW executive director.”Parramatta’s emergence as a dual CBD is underpinned by higher densities, ambitious investment in infrastructure and demographic swings.”The vision will deliver more jobs, cranes in the sky and better opportunities for investment.” On completion, the Aspire tower is set to be the tallest residential building in the state. A development application will be lodged for it to reach 68 levels, though Walker Corporation will continue negotiations with the Federal Civil Aviation Safety Authority for approval to exceed the existing flight path ceiling, which would allow it to rival the tallest buildings in Australia.Chairman of Walker Corporation, Lang Walker says the project will redefine Parramatta, and his team is in a “good position to get started quickly on this large-scale transformational development.””On the housing market on the fringes in Sydney such as the south-west and the north-west, for example, we are in a critical shortage,” Walker told a sell out lunch for 7 people last Friday, the Rise and Rise of Parramatta, hosted by the Property Council.Walker Corporation will manage leasing arrangements and residential sales for the new buildings and is already in discussions with several prospective tenants.