Midtown MacPark – a new $2.2 billion Community Apartment Project (CAPs) development by Frasers Property, which is being spruiked as promoting intergenerational living in a connected community – has a development application now under exhibition for stage two, with stage one construction already underway.
Slated to contain 3,300 apartments when complete, Midtown in Sydney’s Macquarie Park had sold out 90% of units in its first building as of August, with units in its second building starting at $655,000 for a one-bedroom apartment.
Rod Fehring, chair of Frasers Property, has said in the past that the development will be a community whose intergenerational residents will take care of one another, rather than the model of a traditional retirement village where one operator cares for a limited age bracket.
“In my experience with RV and aged care – I am not a fan of the RV sector. I am not a fan because I believe fundamentally that retirement living is about property – it’s not about property, it’s about care,” he said at the DCM LEADERS SUMMIT 2019.
The second stage of development is set to contain three residential buildings with their own communal spaces; neighbourhood retail; a village green; a community centre, commercial gym, and pool; and planting of 400 additional trees on top of the 150 in Stage One.
Midtown MacPark is situated near Macquarie University, Macquarie shopping centre, and their associated metro station.
