Holdmark’s Parramatta Skyscraper Scheme Goes Public

A half-a-billion-dollar, 72-storey residential skyscraper at Western Sydney’s Parramatta is proposed to rise beside the city’s main rail interchange and rank among its tallest buildings.

Holdmark’s $497-million proposal comprises a new 233m apartment tower and the conversion of an existing 13-storey office building into co-living housing at 2-10 Valentine Avenue.

The State Significant Development application is on public exhibition until April 14 and has been filed through NSW’s Housing Delivery Authority pathway.

The proposal—designed by by Buchan in collaboration with Furtado Sullivan and Curzon + Partners—would deliver 479 apartments across the tower, including 155 one, 247 two and 77 three-bedroom homes. Four per cent would be allocated as affordable housing in perpetuity.

The office building would be converted into 440 co-living units providing 608 beds, comprising 319 single rooms, 86 twin-share, 23 triple-share and 12 quad-share configurations.

Combined floor space would be 77,644sq m—60,776sq m in the tower and 16,867sq m within the adapted building.

Plans include demolition of a six-level, 286-space car park, excavation for six basement levels, 144 car spaces within the new tower and 17 spaces within the co-living building, bicycle parking, landscaping and public domain works along Valentine Avenue and Parkes Street.

▲ A rendering of the proposed 72-storey residential tower rising beside the existing 13-storey office building to be repurposed for co-living.

The 3937sq m site sits about 440m from the future Parramatta Metro Station and within walking distance of heavy rail and light rail.

It marks the latest shift for a site that has cycled through multiple schemes over almost a decade.

Previous owner Australian Unity secured approvals in 2018 and 2020 for commercial office schemes rising to 31 storeys combined, but neither proceeded after failing to secure tenant pre-commitments.

In 2024, a build-to-rent tower advanced through early design and assessment, including a design competition won by Buchan with Furtado Sullivan, before being paused in early 2025.

▲ A rendering of the 233m tower proposed for 2-10 Valentine Avenue.

The scheme has since been recast as build-to-sell apartments, while the existing office building is being retained and repositioned rather than demolished.

Planning documents point to weakening demand for office space in Parramatta alongside stronger demand for housing in well-connected locations.

Planning controls would need to change to allow the scale of the proposal.

Holdmark is seeking to rezone part of the site to allow mixed-use development, increase building height and enable substantially more floor space.

▲ A rendering of the lower levels of the tower showing podium apartments, landscaping and activated street frontage.

A separate change would allow co-living housing within the retained building, where commercial uses currently dominate.

The application was recommended by the Housing Delivery Authority in June 2025 and declared State significant shortly after, allowing it to bypass council and be assessed at a state level.

At about 233m, the tower would sit among the tallest buildings in Parramatta, slightly exceeding the completed 6 and 8 Parramatta Square office complex at 10 Darcy Street, which rises about 223m across 53 storeys.

At about 233m, the tower would sit among the tallest buildings in Parramatta, slightly exceeding the completed 6&8 Parramatta Square office complex at 10 Darcy Street, which rises about 223m across 53 storeys.

Further development is also progressing nearby, with Urban Property Group advancing a State Significant build-to-rent project at 2 Fitzwilliam Street comprising two towers of up to 48 storeys, 703 apartments and a hotel component, designed by SJB Architects.

The Environmental Impact Statement said the latest proposal “reflects a carefully considered evolution of the project” and would replace a vacant office asset with housing near one of Sydney’s busiest transport nodes.