Billbergia’s $3.2 billion vision for Rhodes waterfront to deliver more than 1,800 new homes

Billbergia has officially submitted its plans to the Department of Planning, Housing and Infrastructure (DPHI) for a State Significant Development Application (SSDA) for the Rhodes Bay Masterplan, a $3.2 billion mixed-use project in Sydney’s Inner West.

The project will deliver over 1,800 new waterfront dwellings alongside over 16,000 sqm of new public open space dedicated to a range of sporting facilities and water activities, community parklands and a retail and dining precinct.

The Rhodes Bay Waterfront Masterplan spans 3.1 hectares across four amalgamated sites, fronting Cavell Avenue, Averill Street and Leeds Street in Rhodes. Located on the northern tip of the Rhodes peninsula, the site is one of the suburb’s last remaining north-facing developments that fronts the Parramatta River.

It will see former industrial land transformed into a thriving mixed-use residential village, connected to public transport and community amenities.

Significantly, it will open up previously privatised industrial land on the Parramatta River foreshore and return it to public access for the first time in more than a century.

The masterplan has been designed by award-winning architects SJB. It features eight residential towers between 22 and 40 levels, providing a total of 1,840 dwellings. Abundant new community infrastructure will be delivered, including a foreshore promenade and over 16,000 square metres of new public open space and sporting facilities.

The masterplan builds on an earlier Rhodes Place Strategy and now delivers more than double the amount of open space. It is also aligned with the Government’s long-term vision for connected walking and cycling paths along the Parramatta River.

Subject to approvals, 800 of the new apartments will be delivered before 2029 under the Government’s Housing Accord Targets, while the overall precinct could be completed by 2034.

The new Masterplan sits adjacent to Billbergia’s existing Rhodes Bay Stage 1, already approved and under construction delivering a further 400 apartments via a separate SSD process, prior to the Masterplan being prepared.

“We are excited to contribute to the ongoing urban renewal of the peninsula from its industrial past to deliver a new urban village that will unlock public access to the Parramatta River waterfront," said Saul Moran, Billbergia’s Development Director

"This world-class project will redefine liveability, seamlessly blending modern homes with retail, dining, and essential services – all set among parklands down to the water. More importantly, Rhodes Bay will deliver abundant new amenities for the existing community – with a waterfront promenade, community gardens and a multi-purpose sports, retail and dining precinct.”

Separately, the NSW Government has provided funding for a new Public Primary School on an adjoining site that will include fit-for-purpose classrooms and core facilities to meet the needs of the growing local community.

According to Billbergia, staged construction of the new masterplan could start by late 2026.

The application aligns with the NSW Government’s Housing Accord targets to deliver 322,000 homes across Greater Sydney by 2029.

The Rhodes Bay Masterplan will also deliver more than $150 million in contributions toward State and Local Government infrastructure including affordable housing.

Leading Rhodes’ urban renewal for more than 15 years, Billbergia is the single-largest provider of homes and privately-funded social infrastructure in the suburb. Billbergia has already delivered more than 3,000 homes alongside social infrastructure, including the 1.2-hectare Phoenix Park, 13,000-square-metre Rhodes Central Shopping Centre, $63 million Bennelong Bridge and the new $90 million Rhodes Recreation Centre that opened on 20 October 2025.

Detailed planning, technical studies and early consultation has been undertaken to support a submission to the Department of Planning, Housing and Infrastructure (DPHI), with assessment and public exhibition expected in the New Year.