The former AFL-owned football stadium, which had an actual capacity of about 78,000, earned the unflattering nickname Arctic Park, given the wet, wild and windy conditions which seemed to form around the venue on game days.
The stadium operated for just 30 years before it was sold to Mirvac in late 2001 as a residential development site.
Mirvac has been developing Waverley Park in stages, and last month, unveiled Harmony 9, a sustainable housing prototype producing highly energy efficient homes.
Construction of the Harmony9 concept home has already commenced with 100 per cent recycled concrete slabs poured, and currently undergoing a six month curing period.
Mirvac says the unique recycled concrete slab is the first of its kind in Australia. The 9-star concept homes are not available for sale yet, however the 6+ star Harmony Homes, which are also uber green, start from $495,000.