Macquarie Park introduces residential development into a business district

Written by

Charbel Abousleiman

Urban Planning Lawyer & Buyers Agent

13/11/2023

Macquarie Park Stage 1 Neighbourhood Precinct is the first strategic piece to deliver the Macquarie Park Innovation Precinct Place Strategy.

Exhibited in November 2023, the planning package introduces residential development into the business district, which will provide vibrancy and an 18-hour economy in Sydney’s north district.

Macquarie Park Innovation Precinct covers about 170 hectares of employment zoned land between Macquarie Shopping Centre and Ivanhoe Estate through to North Ryde Riverside Corporate Park. In September 2022, the place strategy and master plan were endorsed by the then Minister for Planning, which demonstrates the strategic land use framework to grow Macquarie Park’s economic capacity. The strategy informs the planning for new connections and open spaces, as well as an additional 20,000 jobs and up to 7650 homes.

Stage 1 includes master planning for:

Neighbourhood 2 – Waterloo Park,
Neighbourhood 3 – Shrimptons Quarter,
the western portion of Neighbourhood 4 – Macquarie Living Station,
part of Neighbourhood 6 – Wicks Road South, which seeks to ensure the delivery of public open space. Additional sites for open space at 144 Wicks Road and 18 Waterloo Road are also included.

Macquarie Park Innovation Precinct

The intended outcomes of the stage 1 rezoning is to reimagine the commercial core around Macquarie Park Metro Station, the introduction of mixed use along Shrimptons Creek, Lane Cove Road and Epping Road supported by new entertainment and cultural opportunities and improved pedestrian and cycle links.

Specifically, this will enable the delivery of:

275,000 square metres of residential floor area – 3060 new homes,
1,200,000 square metres of commercial floor area – with the flexibility to deliver build-to-rent apartments within this zoning, and
5% – 10% of affordable housing where land is being rezoned for residential.

Macquarie Park is home to Macquarie University, Macquarie University Hospital, Macquarie University Incubator and more than 180 large international corporations and 200 small businesses. With Macquarie Hospital and CSIRO Lindfield nearby, it is one of the largest non-CBD office markets in Australia. Its success draws on decades of employment-related investment and development.

Macquarie Park’s Innovation Precinct is essential to growing Greater Sydney’s capacity as a centre for innovation to attract top businesses from around the world and create new opportunities for the people of Sydney.

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