This article is from the Australian Property Journal archive
DEVELOPER Deicorp’s latest transport-oriented project in lower North Shore of Sydney, Falcon & Alexander, has received the go ahead from the Independent Planning Commission (IPC) after the local council attempted to scupper the development.
The project application was lodged in April last year and assessed by the NSW Department of Planning, receiving a recommendation for approval in November.
However, the local council objected to the project and the matter was referred to the IPC.
The IPC invited submissions from the community as part of its determination, with 20 submissions received, including nine objections and 11 in support.
Deicorp’s founder Fouad Deiri said he is pleased with the outcome and the work of the Department of Planning to support the application, despite opposition from North Sydney Council.
“We have been working for over five years to achieve an approval on this site, including three separate planning proposals and a subsequent State Significant application.
“The time it has taken to secure an approval for this project highlights the difficulties the development industry faces in trying to build homes in Sydney.
“A community survey we undertook as part of the consultation process demonstrated a majority of residents in the area were either in favour of the project, or neutral towards it.
“A significant majority of residents surveyed supported the substantial Affordable Housing within the project and the new retail precinct being provided.”
The project at 8 Alexander Street in Crows Nest, will be built on the prominent Pacific Highway site known as The Five Ways, only 350 metres from the new Crows Nest Metro Station.
Designed by architects Turner Studio, it will comprise 188 apartments including 48 Affordable Housing units over 22-levels, which includes a three-storey podium with ground floor retail and commercial space.
Findings by the research and engagement firm Notting Hill Advisory revealed a significant portion of households polled in four key development hubs across Sydney, including the North Sydney local government area (LGA), were favourable to new housing located close to public transport and delivered with good amenity outcomes.
In the North Sydney LGA, where the Crows Nest development is located, 64% of the residents surveyed also agreed the provision of Affordable Housing would benefit the community.
The latest win will boost Deicorp’s development pipeline to more than 3,000 apartments, which the company expects to start construction of in 2025. It comes as their Joynton Ave Zetland site being signed off by the Central Sydney Planning Committee. This project includes 574 apartments across nine buildings and a contribution of $28 million for Affordable Housing.
