en.Wedoany.com Report on Mar 21st, Just one month after receiving approval from the Independent Planning Commission, developer The Living Company, which specializes in the Build-to-Rent (BTR) sector, has officially commenced construction on its large-scale residential precinct, Timberyards, in Sydney's Marrickville. Located approximately 7 kilometers from Sydney's Central Business District, the project involves a total investment of $664 million. It plans to construct seven buildings, with the tallest reaching 14 stories, encompassing 474 Build-to-Rent apartments, 115 affordable housing units, and 577 co-living spaces, forming a comprehensive residential community that integrates living and social functions.

At the groundbreaking ceremony, New South Wales Premier Chris Minns stated, "The Living Company has truly captured the essence of Marrickville with this project, which isn't easy for a new residential development." He emphasized that the project not only meets the housing needs of different income groups through diverse unit types but also focuses on preserving the area's cultural character, providing sustainable living options for local residents. It is reported that the Build-to-Rent apartments will be held and managed long-term by the developer to ensure tenant rights, while the affordable housing portion, supported by government subsidies, lowers the entry barrier, helping to alleviate regional housing pressure.

The head of The Living Company revealed that the residential precinct's design incorporates green building concepts and includes planned facilities such as public gardens and shared office spaces. Upon its expected completion in 2027, it is set to become a landmark residential community in Sydney's western region. This groundbreaking marks a further optimization of Sydney's housing supply structure and provides a new paradigm for the city's sustainable development.