Flying start for Gurner, Qualitas as $450m build-to-rent tower at Parramatta is fast-tracked

Rich-lister Tim Gurner’s build-to-rent partnership with alternative asset manager Qualitas (ASX: QAL) has been granted fast-tracked approval to proceed with a $450 million mixed-use tower in Paramatta.

The development, which will deliver 390 apartments across 61 levels, is touted by the partners as the first to get a green light by the NSW Government since its State Significant Acceleration initiative was introduced last year to encourage more build-to-rent projects.

Plans for the Parramatta project were lodged in mid-2022 and Gurner Group says the project was the first build-to-rent development to be assessed and approved under the government’s Rapid Assessment Framework.

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