Urban.com.au’s insight into new and off-the-plan developments in Parramatta
If you're looking for an off-the-plan development in Greater Western Sydney, the vibrant and evolving city Parramatta offers a balance of bustling commercial activity, rich history, a vibrant multicultural food and arts scene, and a picturesque riverside location.
As one of Australia's fastest growing cities, it offers a dynamic lifestyle for residents looking to experience urban living at its best.
With its rich history and multicultural community, Parramatta has become a popular choice for home buyers seeking convenience, affordability and modern amenities. From world-class dining options to picturesque parks and recreational facilities, this bustling city has something for everyone.
When it comes to new developments in Parramatta, you can expect contemporary apartment buildings and townhouses that are designed for comfort and style. Whether you're looking for a sleek studio apartment or a spacious family-friendly townhouse, there's a wide range of options available to suit your needs.
Living in Parramatta means being surrounded by an array of shopping centres, cafes, restaurants and entertainment venues. The vibrant nightlife scene ensures that there is always something happening in the area, from live music performances to cultural events.
For those who value convenience and accessibility, Parramatta boasts excellent transport links including trains, buses and ferries. With easy access to major roads such as the M4 motorway and Great Western Highway, commuting to Sydney CBD or other parts of Western Sydney is hassle-free.
As development ramps up across Western Sydney, many apartments and townhouses are popping in the state’s second CBD. Start your search today for new developments for sale in Parramatta!
New Developments in Parramatta
Parramatta's urban landscape is evolving, reaffirming its status as Sydney's second CBD.
The finalisation of the Parramatta CBD Planning Proposal marks a significant step forward, offering the potential for approximately 11,900 new dwellings.
This development is crucial in helping Parramatta reach its five-year housing target of 23,660 new homes by 2026.
The approval of the CBD Planning Proposal provides much-needed certainty for investors and aims to boost housing supply and quality jobs in the area.
Despite challenges such as the reduced size of the development area and FSR restrictions, these changes are expected to bring significant opportunities for growth and development in Parramatta.
If you're considering buying an investment property in Parramatta, rental yields for units in the city are 5.34 per cent, with a median rent of $630 weekly. Units have seen 2.44 per cent growth over the past year.
New Developments in Parramatta selling in 2024
Throughout the years, developers in Parramatta have brought new developments that contribute to the suburb's ever-evolving skyline.
Parramatta is home to the first robotic car park system in the southern hemisphere.
Completed in November 2021, Aoyuan, building contractors EQ Construction, and leading architects, Marchese Partners have collaborated in bringing 46 floors and 6,300 sqm of The Lennox in Parramatta.
The 149-metre building is home to 414 apartments, one of Australia's most modern Skyscrapers.
Lödige started work on the site back in 2020, the completion of the car park comes at a welcomed time as the gentrification and development of Parramatta only continues.
Parramatta further reached new heights with the completion of its tallest residential tower.
Rising 67 levels, Meriton's 180 George offers extensive views across Sydney through its glass facade.
552 landmark residences look out over the Parramatta River to the Sydney CBD skyline and beyond, marking a new statement building in the epicentre of Western Sydney.
Privately-owned developer Coronation Property is also in the works of bringing another landmark destination to Parramatta's real estate landscape.
In collaboration with the renowned global architects Woods Bagot, the 55-level tower, dubbed 8 Phillip Street, comprises 314 sold-out apartments and penthouses.
8 Phillip Street will sit alongside Parramatta's first luxury QT Hotel, spanning from the ground floor to level 17 of the tower.
Most recently, developer ALAND has topped out its new $357 million Paramount on Parkes with a traditional ceremony attended by building crew, staff and guests.
Speaking at the event, Dr Andrew Charlton, federal MP for Parramatta said, “As the fastest growing CBD in Australia, Parramatta needs more high-quality housing, close to our exceptional transport hubs, lifestyle amenities, and beautiful parklands – Paramount of Parkes exemplifies this. With vistas of the river, little India and the CBD, it is a real contribution to our city, offering a symbol and benchmark for mixed-use development here in Parramatta.
Paramount on Parkes is a cutting-edge building that features many sustainable features, such as efficient use of wind, water and solar access, state-of-the-art security technology and the latest digital comms, including optic fibre cabling.
When completed in August this year, the new tower will contain 331 apartments, a ground-floor retail precinct, resort-style amenities and six floors of dedicated commercial space at the summit.
