Crescent Parklands: Stokes family’s $525m development in Holroyd

A mammoth construction project in Sydney’s west, which is being developed by Ryan Stokes, is set to create 2500 local jobs during its $525m construction, with essential workers set to benefit once the homes are built. VIDEO: SEE THE NEW DEVELOPMENT

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Local tradies and essential workers will be given preferential treatment as part of a mammoth construction project in the city’s west.

Developers behind the proposed Crescent Parklands near Parramatta are promising to give ambulance and other frontline workers first dibs on at least 87 new affordable housing homes provided as part of the $525 million development.

They are also pledging to ensure western Sydney tradies are first in line for lucrative demolition and construction contracts over the course of the proposed 10-year redevelopment of the former WesTrac industrial site in Holroyd alongside the M4.

Fresh pictures of the new design of Crescent Parklands at Holroyd.

Speaking publicly about the project for the first time, Australian Capital Equity CEO Ryan Stokes told The Sunday Telegraph the residential and commercial project will create 2500 jobs during construction.

“At its peak the WesTrac site would have had about 450 people working here,” Mr Stokes, son of media mogul Kerry Stokes, said.

Australian Capital Equity CEO Ryan Stokes at the site of the new development. Picture: Tim Hunter

“This area is going through tremendous change and a really progressive evolution.

“The site is really close to Parramatta, Granville and Merrylands.”

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Plans for the site’s high density rezoning, being considered by the Sydney Central City Planning Panel, go on public exhibition in the coming days.

They reveal it will have 1255 apartments, with seven per cent of dwellings dedicated for affordable homes rented out for a 20 per cent discount on market rates in perpetuity.

Artist impression of what the Crescent Parklands development will look like.

It will also have 15,000sq m of commercial and retail space, including a supermarket, other retailers, cafes and restaurants, childcare, a medical centre and 6255sq m of office space.

The project has the backing of Skills Minister and Parramatta Liberal MP Geoff Lee and Western Sydney Business Chamber executive director David Borger.

Cumberland Council remains opposed because of traffic, density and amenity concerns.

Mr Borger pointed toward the project’s 7714 sqm public park, which is bigger than a soccer field, with a playground and BBQ facilities as evidence of its importance to the area.

There will be more than one soccer field worth of open space in the new Crescent Parklands development near Parramatta.

Public space will comprise 43 per cent of the 3.79ha site.

“People are sick of high-rise projects that don’t have adequate space and this project has got more open space than any other high-rise project in Sydney at the moment,” Mr Borger, a former Parramatta mayor and state Labor government minister, said.

“It is creating new public and private parks so you can come here with a child and they can have a place to kick the football muck around with their mates.

“It has got all those great urban design principles that you want that we often don’t get in Sydney.”

Ryan Stokes (centre) with state Liberal MP Geoff Lee (left) and Western Sydney Business Chamber executive director David Borger at Holroyd. Picture: Tim Hunter

Mr Lee said there are 50,000 jobs in the Parramatta CBD at the moment and “we are going to grow back to 100,000 over the next 10 years”.

The majority of the site’s dwellings and retail spaces will be contained in four towers that are 28, 23, 17 and 22 storeys.

In response to criticisms the project would create traffic problems for nearby Woodville Rd, Mr Stokes will add an extra lane along Crescent St.

Cumberland Council has resolved not to meet with the developers and remain opposed to the project, which if approved would be the most dense part of the local government area outside of Merrylands town centre.

“They are packing in residents like sardines into an already congested area that has a lack of infrastructure,” Cumberland Mayor Steve Christou said.

“The M4 and Woodville Rd are packed enough as it is.”

Developers are estimated to pay at least $31.3m in local and state government infrastructure levies.

Originally published as Crescent Parklands: Stokes family’s $525m development in Holroyd