Global rental housing giant Greystar has reached a major construction milestone in Sydney, completing the structure of Haiku Bourke — its $175 million Build to Rent (BTR) development at 888 Bourke Street, Zetland.

The topping out marks Greystar's entry into the Sydney market, following the successful delivery of three Haiku communities in Melbourne.

With two additional BTR and purpose-built student accommodation projects expected to progress in NSW within the next six months, the company is accelerating its East Coast presence in response to deepening demand for professionally managed rental housing.

Originally acquired in 2022 as a build-to-sell site, Greystar repositioned the project to address Sydney's chronic rental shortage. The Bourke — as the completed development will be known — targets middle-to-high income renters seeking quality, consistency and service in a city where those three things have proven hard to come by.

Adam Pillay, Executive Director APAC at Greystar, says the move into New South Wales is a strategic inflection point for the business.

"Our expansion into New South Wales marks a defining chapter in Greystar's strategy as we scale our platform to meet the surging demand for purpose-designed and built rental housing," he says.

"Many renters, particularly those arriving from overseas, face challenges securing high-quality, professionally managed rental housing in Sydney.

"By targeting urban renewal precincts like Zetland, we're introducing high-quality rental housing into markets where renters are seeking greater consistency, service and quality in their living experience.

"Globally, Greystar has seen multifamily or build to rent evolve into a core segment of the residential market, and we're bringing over 30 years of experience to Sydney as the sector continues to develop locally."

The project sits within Green Square, one of Australia's most significant urban renewal precincts, expected to house more than 60,000 residents and support 22,000 jobs by 2030. Its location, 3.5 kilometres from the Sydney CBD, and alignment with the NSW Government's inner-city housing supply objectives made it a natural fit.

Delivered through the City of Sydney's Design Excellence program, The Bourke was shaped through close collaboration between Greystar, PTW Architects and the City of Sydney.

The result is two seven-storey brick residential buildings that respond thoughtfully to a complex site while contributing to the broader character of the precinct.

Constructed by TQM Design & Construct, the development offers 190 apartments — studios through to three-bedroom residences, with fully furnished options available.

Amenity across more than 700 square metres includes a gym and wellness studio, co-working spaces, pet spa, dog park, rooftop garden, outdoor BBQ areas, private dining and integrated EV charging infrastructure.

Mark Taouk, Development Director at TQM Design & Construct, adds that the project demanded precision on multiple fronts.

"TQM Design & Construct is proud to mark the topping out of The Bourke at 888 Bourke Street, Zetland, as head contractor on Greystar's first build to rent development in New South Wales. Beyond structural completion, the project demonstrates TQM's end-to-end delivery capability across a complex, design-led residential development," he says.

"Operating within a constrained inner-city site in a rapidly evolving urban renewal precinct, The Bourke required careful management of logistics, compliance, and stakeholder coordination.

"Through detailed planning, disciplined sequencing, and a strong site-led approach, construction has progressed safely and efficiently toward completion. We're proud to have partnered with Greystar to deliver a project that contributes to the continued growth of the Green Square precinct and supports the evolution of professionally managed rental housing in Sydney."

The Bourke is expected to open to residents later this year.

Renders: Haiku Bourke / supplied

Architecture & Design Team

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