Luxury Pyrmont Development To Finance Affordable Housing — But Where?

A project to build 280 high-end units next to Wentworth Park will finance the construction of low-cost dwellings elsewhere, but some locals are concerned that it will not improve the area’s affordability.

The high-rise development consisting of four buildings — that will feature promenades, rooftop gardens and a swimming pool — will be situated beside the light rail station and bordered also by Wattle, Fig and Jones streets. It will benefit from the envisioned renovation of the large park, slated to take place after the greyhound track lease ends in September 2027.

Following an announcement in April, the project, named Pyrmont Place and being undertaken by property group Landream, will be supported by the Minns Government’s Pre-sale Finance Guarantee scheme.

Local advocates “focused” on infrastructure

Community group Pyrmont Action wants to ensure that new developments do not strain amenities or threaten the area’s character. “What we’re very focused on is that there is adequate infrastructure — timely infrastructure, at the time of the developments, and not post.”

“The Sydney Fish Market is a beautiful building, but it’s somewhat disappointing that the ferry still hasn’t been delivered yet, and we have very overcrowded public transport as a consequence of it.”

“Irrespective [of whether] it’s Pyrmont Place or the other developments that will go up, we really consider the Government, the council and the developers in particular should collaborate in having adequate infrastructure, that being health, education, transport, really just to maintain the amenity and the ambience of Pyrmont and any suburb.”

“All suburbs are going through material change, and infrastructure is such a critical component, and it gets a bit lost.” On affordable housing, the spokesperson suggested that “developers’ contribution should be more pointed towards the actual area where they’re actually doing the development.”

MP disappointed by lack of affordable units 

Greens Balmain MLA Kobi Shetty deemed it “disappointing that the developers aren’t including affordable dwellings on site at Pyrmont Place and are opting instead to contribute approximately $2.5 million towards the City of Sydney Affordable Housing Fund.”

“Building 280 luxury apartments won’t help address the housing affordability crisis. We need developers to be providing genuinely​ affordable dwellings on site if we want the city to be somewhere young people and key workers can actually afford to live.” The definition of affordable housing used in New South Wales, and that units must only be offered on that basis for 15 years for a developer to qualify for planning incentives, has faced criticism.

“Residents are also worried that public transport won’t keep pace unless the government expands services,” Shetty said. “They’ve been calling for an additional bus service and more light rail services because the existing ones are already full during peak times. And we know there’s demand for a new high school.”

“Doing density well means delivering this sort of key infrastructure up front to support new developments. The government can’t afford to treat public transport and school capacity as an afterthought.”

Light rail capacity sufficient, says Transport for NSW

A Transport for NSW spokesperson said that the agency reviewed the Pyrmont Place proposal “through the development assessment process.”   

“Transport considers the L1 Dulwich Hill light rail line has sufficient capacity to cater for demand from this development, and continues to analyse forecast patronage from future developments along the line and adjust services accordingly.” 

“In November 2025, Transport increased services on the L1 Dulwich Hill Line, adding an additional 150 weekly services. This follows a period when more than 500 extra weekly services were introduced between June 2023 and March 2025 to meet passengers’ needs.” 

Landream was contacted for comment.