First Look: Mirvac, John Holland, submit $960m Waterloo Metro Quarter plans

A few months after the Waterloo Metro station opened, joint venture partners Mirvac and John Holland have submitted plans for two more stages in the Waterloo Metro Quarter.

The $960 million, State Significant Development, which goes through government planning rather than the local council, will replace the previously approved commercial office development with a vibrant mixed-use precinct comprising residential towers, retail spaces, and community facilities.

The original Concept SSDA, approved in 2019, envisioned a mixed-use development but was later amended in 2021 to primarily focus on office space.

However, the developers cite significant shifts in market demand following the COVID-19 pandemic, including a decline in demand for city fringe office space and an escalating need for residential housing in the Waterloo-Zetland area.

There are two sets of plans, for the Northern Precinct and the Central Over Station Development. The Northern Precinct will include two residential towers comprising a total of 336 apartments, 40 of which will be affordable housing. They will sit above a four-level podium with three levels of commercial office space and retail tenancies.

The precinct aligns with the original concept of high-density residential use, a shift from the previously approved 17-level commercial office building. 

The maximum height of the proposed towers, 28 and 24 levels, remains compliant with local planning regulations.

The build-to-sell apartments. Image credit: Woods Bagot

The Central Precinct, designed by Bates Smart, will focus on co-living accommodations, built above a podium with additional non-residential uses.

A childcare centre and other community facilities are planned for this part of the development, further diversifying the precinct's offerings. 

Both precincts will maintain pedestrian connectivity through features like Raglan Walk, a through-site laneway.

The co-living apartments. Image credit: Bates Smart

Upon completion, WMQ will deliver 655 apartments, including student accommodation, social housing, and market apartments, 32,300 sqm of office space, and 4,500 sqm of retail space.

It is being positioned as a transformative addition to the area, comparable to successful developments like Hume Place above Crows Nest station.

Construction of the WMQ basement and the Southern Precinct began in early 2023, with the Waterloo Metro station opening in August 2024.