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Way back in August 2024, initial plans were revealed to build Australia’s biggest affordable housing project in the inner-city suburb of Waterloo. Now, the project is officially moving forward, with the next stage of the massive Waterloo South transformation now on public exhibition. The proposal outlines plans for a dramatically reshaped neighbourhood – complete with thousands of new homes, huge public parks, cafés, shops and community spaces just steps from the metro.
Part of the state’s $6.6 billion Building Homes for NSW program, the Waterloo South renewal is set to become Australia’s largest public housing redevelopment. The wider initiative will deliver 8,400 new public homes, 21,000 affordable and private homes, and upgrades to 30,000 existing social housing properties across NSW.
For “Waterloo South” itself, the proposal could pave the way for around 3,300 new homes – with at least 50 per cent earmarked as social or affordable housing. That figure more than doubles the number of social and affordable homes currently on the site. The plans also put major emphasis on green space. Two new public parks are proposed for the precinct, including a sprawling two-hectare “central park” and a smaller community park set to become a locals’ gathering spot and community event space. Alongside the new housing, the vision for the development includes local shops and cafés, a supermarket, essential services and community facilities aimed at supporting health, wellbeing and social connection. Its location directly beside Waterloo metro station is also expected to make the precinct one of the city’s most connected new neighbourhoods.
Originally announced back in 2015, the renewal project has been in the pipeline for a good few years. Since 2023, the government says it has fully funded the project, completed the first stage of resident relocations and lodged the Concept State Significant Development Application alongside an updated rezoning proposal.
Some residents have already relocated into newly completed homes at the Waterloo Metro Quarter and Boronia apartments, with future relocations to be staged progressively over the coming years. The government says any residents needing to move will receive at least six months’ written notice and relocation support throughout the process.
The proposal is now open for community feedback until June 2, 2026, before assessment by the Department of Planning, Housing and Infrastructure. You can learn more and have your say over here.
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