This article is from the Australian Property Journal archive
SYDNEY developer Deicorp has received the green light for a four-tower, 430-apartment mixed use project that will be built next the Hills Showground Metro station in Sydney’s fast-growing north west.
The Independent Planning Commission checked off on the State Significant Project in Castle Hill following an assessment process that began early last year.
Four 20-level residential towers will rise above a three-level, 10,935 sqm retail podium with supermarket, specialty shops and commercial areas, as well as a publicly accessible plaza that links to the future train station.
The development will form part of the Hills Showground Station Precinct, which received concept approval in January 2021, and accommodate up to 1,620 dwellings and 13,900 sqm of non-residential gross floor area.
Five per cent of the project’s apartments will be delivered as affordable housing, while the project is designed 5-Star Green Star “as built” rating.
Approval comes as Sydney heads towards a large shortage of supply in built-to-sell apartments after launch and completion numbers hit multi-year lows in 2021.
Deicorp’s Castle Hill project is the second Landcom and Sydney Metro development it has received approval for. Further along the north west corridor, works are well-underway on the 987-unit mixed-use project at Tallawong.
“The Sydney Metro Northwest is one of the most important pieces of transport infrastructure in living memory. The convenient connection to jobs, services and housing is improving the quality of life for thousands of people and helping them become homeowners in a great part of Sydney,” Deicorp’s founder and chairman Fouad Deiri said.
Deicorp has a pipeline of 2,000 apartments in Sydney’s north west that directly benefit from being on the doorstep of the Metro, Deiri said.
“The Showground Station Precinct will help deliver homes that are perfect for young families, first home buyers and those who want the convenience and lifestyle of living in a vibrant new village,” Deiri said.
Deicorp has enjoyed its best year of sales with more than 1,150 apartments sold in the past 12 months.
