Redevelopment of Ivanhoe Estate at Macquarie Park

MinterEllison acted as the principal legal adviser to NSW Land and Housing Corporation (LAHC) - the State Government's lead agency on the revitalisation of Ivanhoe Estate at Macquarie Park. The $2.2 billion redevelopment of Ivanhoe Estate is the flagship project for the Communities Plus program involving a complex project delivery agreement for the development of a vibrant mixed-use community over the next decade.

MinterEllison assisted LAHC to achieve its objectives of developing a seamlessly integrated community of Private Housing Units, Affordable Housing Units and Social Housing Units. Key to this is providing sustainable outcomes for tenants of Social Housing Units and a sustainable management framework for Social Housing Units, ultimately optimising the value for money return to the NSW Government.

Its significance

Once completed, the revitalised Ivanhoe Estate will comprise over 3,500 dwellings, including at least 950 social housing units and 128 affordable housing units. It will also house a high school, a 120-bed retirement facility, a senior-wellness centre and various retail, parks and childcare facilities. The project development phase has begun and will proceed in stages over the next 10 – 12 years.

Ivanhoe Estate is the first project of five major social and affordable developments to be delivered by the State Government’s $2.2 billion Communities Plus program and is expected to contribute $120 million towards social and community infrastructure.

What was our involvement

MinterEllison advised LAHC on all aspects of the Project including complex structuring, drafting and negotiating of all project documentation. Specifically we:

• advised on procurement strategy, including the implications of a market-led procurement process;
• assisted with the review of expressions of interest and proposals;
• drafted and negotiated the complicated and bespoke project delivery agreement with the developer, agreement for lease with the community housing provider and other associated documents;
• advised in relation to complex titling considerations, including appropriateness of community title for the project, and optimal ongoing holding structure for social housing lots and staged subdivision process;
• advised in relation to planning process including masterplan and development applications;
• managed interactions with adjoining landowners; and
• managed competing interests within the project and the consortium including economic return to social outcomes, government to private sector and developer to community housing provider.