This article is from the Australian Property Journal archive
THE Minns NSW government has delivered the first master plans for its Transport Oriented Development (TOD) accelerated precincts, which could unlock nearly 60,000 homes close to Sydney train stations to kick off the ambitious program, while it has identified additional sites around the state that could deliver a further 1,400 dwellings.
The masterplans and rezonings around seven transport centres for the first lot of TOD precincts have been completed for Bankstown, Bella Vista, Crows Nest, Homebush, Hornsby, Kellyville and Macquarie Park.
The TOD was announced late last year with the aim to deliver higher density housing within 400 metres of nearly 40 transport nodes around Sydney. The first seven locations – known as tier one TOD sites – are high-priority locations that have undergone accelerated rezonings and will accommodate high and mid-rise homes within around 1,200 metres of the stations.
The rezonings include space for schools, health services, public parks and options for councils to nominate special entertainment precincts within the areas, and more than 126,000 commercial and retail jobs will be created as a result. Finalisation of the rezonings means development applications can now be submitted and assessed as of this Wednesday.
Some $520 million will go towards funding new public spaces and active transport links meaning more vibrant and walkable precincts.
“These precincts will deliver a mix of housing, new open spaces and playing fields – they’ll be great communities for families to build a life,” NSW Premier Chris Minns said.
The masterplans establish a 3% affordable housing rate, with homes to be held as affordable housing in perpetuity across all sites, and higher affordable housing rates of up to 18% across key sites within the precincts. It is the first time a NSW government has introduced inclusionary zoning for affordable housing in perpetuity.
Proposals which are more than $60 million – or approximately 100 homes – will have access to the State Significant Development pathway, providing an assessment within 275 days, with only 90 of those days being in government hands.
The government will also exclude certain low-risk concurrence and referral provisions as requirements for development applications, because this has been dealt with at the rezoning stage, and exempting residential developments in TOD accelerated precincts from design competitions while still requiring design excellence and meeting the apartment design guidelines.
Out of the first round, TOD accelerated precincts will deliver 18,000 new homes and 3,000 jobs to Homebush, with transport connections via two Sydney train stations and a future Sydney Metro station, along with community facilities. Delivery is linked with the Sydney Olympic Park Master Plan 2050.
In Bankstown, more than 14,000 new homes and 14,300 jobs will be delivered.
In Northern Sydney, Macquarie Park is set for 9,600 homes and 100,000 jobs, with 3.15 million sqm of commercial floor space to be delivered to drive the employment opportunities. Crows Nest on the Lower North Shore will see 5,900 new homes and 2,500 jobs delivered, while further north, Hornsby will see 6,000 new homes and 2,900 jobs
Bella Vista and Kellyville in the north-west will see 4,600 new homes and 3,800 jobs.
1,400 further homes
Following a land audit, the Minns government has also identified opportunities for another 1,400 homes to be delivered in Sydney, the Hunter Region and Central West through its Building Homes for NSW program.
Among the 11 locations are sites at Menai and Haberfield earmarked for around 242 dwellings with roughly 130 social and affordable homes. Three sites at Rooty Hill, St Leonards and Chatswood are being investigated by Landcom and have the potential to deliver almost 850 homes, including more than 80 affordable dwellings.
Two sites in Darlinghurst and one each in Turramurra, Frenchs Forest, Wakeley, and Wallarah on the Central Coast will be developed into housing in partnership with the private sector.
Housing developers and members of the public are invited to submit their interest in purchasing surplus NSW government sites. Property and Development NSW has launched a registrations of interest campaign for parties to indicate interest in developing a mix of low, medium and high-density market housing at 22 sites.
The redevelopment will deliver over 100 new social homes – an increase of 79 homes above the existing supply. These new homes will be located in Eastwood (10 new homes), North St Marys (22), Parkes (nine), Riverwood (16), Smithfield (10), Sylvania (six), Telopea (two), Toongabbie (eight) and Wallsend (20).
The sites are shovel-ready, with construction set to commence on these sites in the first half of 2025.
“This is a whole-of-government effort to unlock more private, social and affordable housing. The majority of homes delivered during the Housing Accord period will be delivered by the private sector and that is why we are unlocking surplus land to deliver more well-located homes,” Minister for Planning and Public Spaces, Paul Scully said.
