diff --git a/core/dbt/contracts/graph/manifest.py b/core/dbt/contracts/graph/manifest.py
index e5d4ca416eb..e53ae1a48b1 100644
--- a/core/dbt/contracts/graph/manifest.py
+++ b/core/dbt/contracts/graph/manifest.py
@@ -1505,8 +1505,10 @@ def is_invalid_private_ref(
         return is_private_ref and (
             not hasattr(node, "group")
             or not node.group
+            # Invalid reference because group does not match
             or node.group != target_model.group
-            or restrict_package_access
+            # Or, invalid because these are different namespaces (project/package) and restrict-access is enforced
+            or (node.package_name != target_model.package_name and restrict_package_access)
         )
 
     def is_invalid_protected_ref(
diff --git a/tests/functional/access/test_access.py b/tests/functional/access/test_access.py
index 0b006719f89..13cec0f0ee5 100644
--- a/tests/functional/access/test_access.py
+++ b/tests/functional/access/test_access.py
@@ -486,10 +486,15 @@ def test_dbt_project_access_config(self, project):
         tests:
           - not_null
           - unique
+
+groups:
+  - name: sales
+    owner:
+      name: sales_owner
 """
 
 accounts_sql = """
-select "Jane" as name
+select 'Jane' as name
 """