DASCO launches game-changing new Waterloo precinct, Danks St District
Respected builder-developer DASCO has unveiled its highly anticipated Danks St District, set to become the largest and most design-focused residential and retail village in the heart of Waterloo.
DASCO, a family-run company founded over three decades ago by Daniel and Salim Nicolas as a construction and design firm, secured the large disused 1.7-hectare site on the corner of Bourke, Young, and McEvoy Streets in 2023.
They have now launched the first stage of the precinct. The precinct comprises the delivery of six new residential buildings, and later the restoration of two heritage-listed structures: the 1922 Pumping Station and the 1935 Valve House.
The new buildings, designed by Bates Smart, MHNDU, Fieldwork and Richards and Spence, vary in size and density—from a stepped 20-level tower with terraces adjacent to a new park, to a boutique six-level plaza building with just 23 apartments. The architecture pays homage to Waterloo’s industrial past through expressive brickwork and sculptural form.
The first release, Bourke Street Residences, features a mix of one, two, and three-bedroom apartments, designed by MHNDU in collaboration with Melbourne-based landscape architect Fieldwork.
The sculpted building draws inspiration from the site's natural environment and existing heritage structures, blending old and new in a refined, contemporary form.
Residents of Bourke Street Residences will also enjoy private amenities, including a rooftop garden with city views, a sheltered barbecue area, an outdoor gym, and a soundproofed music room.
DASCO CEO Michel Najjar said Danks St District presented an opportunity to deliver a landmark lifestyle community that benefits from the highly desirable Redfern and Surry Hills villages. He said the project will be extremely popular with owner-occupiers, investors, and tenants.
Danks St District will no doubt draw attention from the likes of Redfern and Surry Hills with its communal gardens and central plaza filled with retail and dining spaces.
DASCO, an iCIRT-rated builder-developer, has also secured the highly sought-after Latent Defects Insurance policy from Resilience Insurance. The insurance, which can only be taken out by the developer and not the property owner, protects homeowners from major structural or waterproofing faults for 10 years post-completion.
The Danks St District will deliver 373 much-needed dwellings to Sydney's housing supply on a prime 17,000 sqm+ inner-city site.
DASCO co-director Daniel Nicolas said Sydney’s housing crisis has highlighted the desperate need for a stronger pipeline of projects that will help alleviate rapidly increasing rents and provide a greater diversity of housing within the inner city. He noted that "research shows inner-city approvals have plummeted to record low levels in recent years and new project releases and completions have also stalled."
He added, "All the metrics indicate there is a dire problem with low vacancy rates and soaring rents. Net overseas migration figures have returned to pre-COVID levels and the demand for quality residential living, particularly in this location, remains as high as ever from students, singles, couples, and young families."
"With fewer development sites of this scale and calibre available in prime and prestigious locations, we see this as an essential opportunity for us to deliver an impressive legacy project."
