Construction underway on $2.4bn Parramatta Square

November 22, 2017 by  

After two decades, work on the $2.4 billion development Parramatta Square has begun.

The initial turning of the sod to mark the start of construction was undertaken recently by representatives of Property NSW, Parramatta Council and the Walker Corporation.

The project, described by Lord Mayor Andrew Wilson as “the largest urban renewal project in the country” will include four towers featuring an estimated 250,000sqm of restaurants, retail, office space, cafes, bars and open space. It is estimated that it will accommodate about 25,000 workers.

The Lord Mayor said the project is going to see everyone look at Parramatta as the “centre of Sydney.”

The project will be kick started with the construction of the 40-storey Tower 4, which has been illustrated on graphic designs for use by 4,000 government staff members from the finance, industry and planning departments as of 2019.

David Borger, of the Sydney Business Chamber Western Sydney, believes Parramatta Square will become the area’s answer to New York’s Rockefeller Centre. He says:

“When I was elected on Parramatta Council in 1995, the first item on my first meeting agenda was this project. It could become the new Town Hall steps of western Sydney.”

It is also expected that Parramatta City Councillors will soon deliberate over a proposed change in the property development agreement that would introduce an option to alter a part of the project from residential use to commercial.