A new residential and retail precinct delivering 373 dwellings has been launched in Waterloo, marking one of the area’s most significant inner-city redevelopment.
Background and Site History
DASCO has commenced development of the Danks St District on a former 1.7-hectare industrial parcel in Waterloo, positioned at the corner of Bourke, Young, and McEvoy Streets. The family-owned builder-developer, active for more than 30 years, acquired the site in 2023. The redevelopment will repurpose part of the land by restoring two heritage-listed structures: the 1922 Pumping Station and the 1935 Valve House.
Residential Scope and Urban Design
The Danks St District will introduce six residential buildings designed by architectural firms including Bates Smart, MHNDU, Fieldwork, and Richards and Spence. The buildings vary in scale, from a stepped 20-level tower with terraces to a six-level plaza block with 23 apartments. The design references Waterloo’s industrial history through expressive brickwork and sculptural forms.
The initial residential release, Bourke Street Residences, features one-bedroom, two-bedroom and three-bedroom apartments. It incorporates rooftop gardens, a soundproof music room, barbecue facilities, and an outdoor gym. Future stages will include The Artisan, The Watermark, The Pavilion, The Terraces, and The Avenue.
Retail and Public Spaces
DASCO’s broader vision for the precinct includes retail and dining spaces across multiple zones. These include Bourke St Eatery, Washer’s Lane, Danks St Square, Danks St Reserve, Dahl’wah Circle, and a central water feature. The developer has positioned the area as a self-contained village drawing on the appeal of nearby Redfern and Surry Hills, anchored by communal green space and dining options.
Response to Housing Demand in Waterloo
The precinct will deliver 373 new homes to Waterloo amid low vacancy rates and increasing rent pressures. DASCO has highlighted the slowdown in inner-city housing approvals and a lag in new project completions as contributing factors. The site is expected to attract owner-occupiers, tenants, and investors, particularly students, singles, couples, and young families.
Assurance Measures and Insurance Cover
DASCO holds an iCIRT rating and has obtained Latent Defects Insurance coverage through Resilience Insurance. The cover applies for a period of 10 years post-completion, offering protection against major structural and waterproofing faults. This insurance is exclusive to the developer and not transferable by property owners.
Outlook
With limited large-scale sites remaining in central locations, Danks St District is being positioned as a legacy project. Its integration of heritage structures, residential options, and retail amenities aims to reshape the local fabric of Waterloo while contributing to broader housing supply objectives.
Published 3-May-2025
