Major Sydney developer Billbergia is proposing to build a huge $2.2 billion residential and retail precinct in the city’s bustling inner west in one of the largest development applications yet submitted to the state government’s new housing authority.
Billbergia, with private lender Metrics Credit Partners, is planning to convert vacant warehouses on a vast site into eight residential towers between six and 37 levels at 1 King Street, next to the Concord West train station, 15 kilometres from the CBD.
If approved, the project will create 1300 new homes, a multipurpose mini sports field, a playground, a supermarket, specialty shops, a cafe and a childcare centre among open parkland on the vacant three hectares of land. A ground-level “civic plaza” will tie the precinct together.
The plans include building a loop road connecting King and George streets and the extension of a pathway for pedestrians and cyclists.
The proposal has been created to reduce build heights and increase public open space, in the design by GroupGSA and architects including Fitzpatrick Partners, Lachlan Seegers and Carter Williamson, the developers say.
“Concord Central is an exciting opportunity to define forward-thinking liveability in Sydney’s Inner West,” Billbergia development director Saul Moran said.
“Designed in collaboration with four leading architects, the project will deliver a contemporary urban village that integrates retail, dining, and essential services. Concord Central will create an elevated inner-city lifestyle while also unlocking benefits for the surrounding community.”
A development application has been lodged through the state government’s Housing Development Authority, set up late last year to streamline projects deemed of state significance, as NSW races to meet its new housing targets amid an affordability crisis that has pushed Sydney’s median price to $1.5 million.
NSW is expected to fall short by 94,505 new dwellings below its housing accord target of 375,730 new homes by 2029, as part of a broader effort to deliver the national target of 1.2 million. The state is the third worst for home build starts, with only Tasmania and the Northern Territory being further off their targets, according to Master Builders Australia’s data from September.
Build times are improving but it still takes 54.1 per cent longer to build a new apartment than before the pandemic, according to MBA. The slowdown can lead to an increase in costs for developers and is contributing to the housing target shortfall.
Across Sydney a jump in development applications prompted by the state’s new housing push is being met with hundreds of NIMBY-minded letters opposing projects that residents say will destroy the character of quiet suburban and inner-city streets.
Metrics chief executive and managing partner Andrew Lockhart says the joint venture is responding directly to Sydney’s growing need for housing and community infrastructure.
“Having identified the investment opportunity in early 2019, this development closely aligns with state and federal government housing priorities and reflects Metrics’ ongoing commitment to supporting economic growth and job creation while delivering excellent outcomes for our investors,” Lockhart said.
The project is expected to generate more than $100 million in contributions to state and local government infrastructure, which is desperately needed to assist builds in the city’s west that require high infrastructure contributions to build new suburbs.
If approved as hoped, construction could begin by late 2026 and be completed by 2029. The project is due to open for public consultation in the coming weeks.
Billbergia recently completed a 668-apartment and retail precinct Rhodes Central, in the suburb of Rhodes that neighbours Concord West, after working with Metrics to secure a $100 million mezzanine loan in 2019.
Source by: The Urban Developer from 21 October 2025
