Coronation Property starts construction on $2B Erskineville project delivering 1,300 Build-to-Rent homes

Market Insights
3 weeks ago
3 minutes

Leading Australian developer and builder, Coronation Property Group (‘Coronation’), has officially marked the start of construction with a ‘sod turn’ for the first approved stage comprising six terrace houses, as part of its $2 billion Erskineville master-planned housing community– one of Australia’s biggest Build-to-Rent (BTR) projects.

The former industrial site at 155 Mitchell Road will ultimately be transformed into a new lifestyle destination for the inner city, featuring more than 1,300 BTR residences, of which 200 will be allocated to affordable housing for key workers including nurses, paramedics, teachers, and aged care workers. Coronation has partnered with Evolve Housing, one of the largest community housing providers in NSW and the largest provider of affordable housing to manage the 200 properties.

The project will be complemented by world-class communal amenities and rooftop communal spaces, an activated dining and wellness precinct, curated retail space, public art, a shared pedestrian and cycling pathways, and diverse green communal spaces, including the future 7,500 sqm ‘McPherson Park.’

Located just 4km from Sydney’s CBD and close to transport hubs, universities, schools, and major hospitals, the project aligns with the Minns Government’s reforms aimed at delivering new homes in well-serviced urban areas.

Approximately 8,200 direct and indirect jobs are estimated to be created throughout the project's life cycle, based on Housing Australia’s research, which shows that $1 million in construction output supports an average of 9 jobs across the economy.

Today’s event was attended by Lyall Gorman, Evolve Housing Group CEO; Brett Manwaring, Evolve Housing Group CFO, Coronation Property’s Executive Team, project partners, and consultants with a Welcome to Country and Smoking Ceremony organised by the Metropolitan Local Aboriginal Land Council.

Coronation’s owner, Joe Nahas, said the team was excited to be ‘turning the first sod’ at Erskineville – the latest addition to its robust pipeline of new BTR and build-to-sell housing communities to be delivered across the Sydney metropolitan area.

“This is the first significant milestone to deliver our vision for this multi-stage urban development, we look forward to working closely with the City of Sydney to realise our plans for a vibrant, new neighbourhood so close to the CBD,” Mr Nahas explained.

“We are also proud that Coronation is partnering with leading Community Housing Provider (CHP), Evolve Housing, to provide 200 apartments in the precinct as ‘affordable housing’, providing a secure supply of high-quality, discounted rental properties for eligible low-to-moderate income earners, including frontline workers at Royal Prince Alfred and St Vincent’s Hospitals.”

Evolve Housing Group CEO, Lyall Gorman, welcomed the partnership with Coronation on the Erskineville Project.

“Today marks a significant step forward to increase the supply of new, affordable housing options for essential workers and lower to moderate income earners, who might otherwise find it difficult to afford a suitable rental property in Australia’s most expensive capital city,” Mr Gorman added.

“Evolve Housing recognises its responsibility to play a role in increasing the supply of affordable housing and we look forward to working together with Coronation to achieve this.”

Coronation’s stand-alone subsidiary company, Nation, will operate the Erskineville Project, which is slated for completion by 2027. Nation is projected to operate around 2,000 apartments by 2027.

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