Meriton bought the site from Goodman Group’s large-scale Sydney Olympic Park in 2015 which was Meriton’s biggest purchase up to that time at $250 million. The industrial precinct was capable up holding up to 1300 apartments.

The NSW government endorsed the Carter Street Priority Precinct as a priority precinct as part of the 2012-13 budget on the basis of its location as part of the broader Sydney Olympic Park Strategic Centre which is designated to accommodate significant jobs and housing growth.