Mirvac has topped out its $460 million mixed-use Pavilions development in Sydney’s Olympic Park in the same week as the ASX-listed developer won approval for Sydney’s tallest residential tower.
Touted as Mirvac’s largest-ever single stage residential project, the four-tower project also brings to fruition the developer’s first foray into the build-to-rent sector, two years on from announcing the formation of a national build-to-rent “club” to combat housing unaffordability.
At the socially-distanced topping out at Sydney Olympic Park, Mirvac chief executive and managing director Susan Lloyd-Hurwitz joined NSW treasurer Dominic Perrottet in congratulating the construction team for achieving the milestone on time, despite having to adapt to physically distanced work practices due to Covid-19 restrictions.
The topping out culminated with the placing of a tree, not on the rooftop as per the ancient Scandinavian tradition, but in the ground, where it will form part of a 4,500-square-meter green space for residents of the 696 apartments, due for completion in mid-2020.
Last month, residents moved into the Verde building, one of two towers in the “Pavilions” project launched for sale in 2017.