Traders In Purple wins fifth project with NSW Government for Bonnyrigg estate
National property developer and construction group Traders In Purple has been selected as the NSW Government’s partner to deliver the next stages in the ground-breaking Bonnyrigg estate redevelopment, adding to its $3 billion project pipeline.
Under the agreement Traders In Purple will deliver the Humphries Precinct, which includes 65 community homes to NSW Land and Housing Corporation (LAHC), and 210 land lots for private sale, meeting pent-up demand in a location with limited opportunity for new housing. It will be stages eight to 11 of the delivery of the $855 million Bonnyring Renewal Project, which already has over 700 dwellings completed, including 256 social homes.
The transformation of the Bonnyrigg Estate is a major 30-year project that will be delivered over 18 stages, creating 4,275 jobs and delivering homes for more than 9,000 residents.
“This is an ambitious project that is transforming the former Bonnyrigg social housingestate in Western Sydney to become a vibrant, mixed-tenure precinct, by taking 833 ageing social properties and creating 3,000 new homes for residents, 900 of which are dedicated for social housing,” Minister for Planning and Minister for Homes Anthony Roberts said.
The Bonnyrigg partnership is the fifth project Traders In Purple has secured with LAHC, resulting in the delivery of 819 apartments, homes and land lots across NSW with a combined value of $590 million.
Traders In Purple Director George Geagea said the Bonnyrigg appointment underlined the NSW Government’s confidence in the company’s ability to deliver high quality, tenure blind communities that meet the need for social, affordable and private housing.
“We are an active development partner of the NSW Government,” Geagea said.
“The Bonnyrigg project gives us an opportunity to build on that relationship of trust and transparency, creating a community that breaks down social housing stigma.
“At Bonnyrigg we will not only provide modern and sustainable social homes but also a land subdivision that will satisfy the demand for private buyers seeking to build their own home.
“Increasing supply is critical to tackling affordability and Bonnyrigg is severely constrained. There are very few built homes available on the market and no vacant land, increasing the cost to purchase and rent.
“The introduction of 210 land lots will assist the market and satisfy the pent-up demand from buyers who have grown up in the area and want to remain local to raise their own families, close to social and cultural networks.”
The 65 community homes will be managed by St George Community Housing.
Traders In Purple will also deliver a junior play park and make a financial contribution to NSW Land and Housing Corporation that will help to fund further provision of social and affordable housing.
Development approval for the Humphries Precinct is anticipated over the coming weeks with demolition works already underway.
Traders In Purple is currently building Northsea, a mixed tenure project 250m from Wollongong Beach, in partnership with LAHC, where million dollar apartments sit side by side with community homes.
Its recently completed Correa Gardens community housing project in the NSW south coast town of Corrimal, delivered in partnership with the NSW Government and Housing Trust, won the 2022 National Urban Taskforce Award for Affordable Housing. Also on its slate of projects in partnership with LAHC are mixed tenure developments at Villawood and Padstow.
In Tasmania, Traders In Purple is part-way through a $300 million mixed use development, 15 minutes from Hobart, in partnership with Kingborough Council. In Queensland, Traders In Purple is the largest developer of luxury coastal developments on the Moreton Bay Peninsular with new oceanfront projects due to launch early this year.
Geagea said Traders In Purple has demonstrated its credentials as a trusted and proven partner in joint ventures and Project Delivery Agreements, with a range of institutions and State and Local Government entities nationally.
“What we offer our partners is the capability and experience of a large developer with the agility of a privately owned company that can make decisions quickly and respond to the market,” Geagea said.
“We are an efficient organisation which means we deliver a quality product without excessive feetaking and costs. This translates to a better outcome for our partners looking to maximise value and returns.
“Traders In Purple has a genuine desire to create inclusive communities and our community housing projects present an opportunity to express the philanthropic side of the business.”
