It is part of the City of South Sydney. Waterloo has for long has a bad reputation for being a poor area, due to many estates build in the second half of the 20th century by the Department of Housing NSW, for low-income people. Today, however, despite the remaining social problems in some parts of the suburb, Waterloo is a vibrant technological hotspot, with an important business district and wonderful green areas.
Also in development is Green Square, an urban renewal program which will see the building of a town square in Waterloo (Green Square area) and make it the most modern area of Sydney. This is expected to attract vast amounts of investment, retail and modern housing.
Waterloo is accessible by bus from the city. Also, 2001 saw the inauguration of the modern Airport Link line of CityRail, and this railway link passes through Waterloo at Green Square station.
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