The state government has approved a 43-storey apartment building on the Pacific Highway. On the other side of the road, a fight has forced the government’s hand.
A $209 million proposal to construct hundreds of build-to-rent apartments in a 43-storey tower on Sydney’s lower north shore has been approved by planning authorities, as the NSW government forges ahead with plans to green-light rezonings and large housing developments simultaneously.
The approval was granted under new planning controls for the Crows Nest transport oriented development scheme that came into effect on November 27. Planning Minister Paul Scully said the approval foreshadowed the “streamlined planning process” that would be available next year under a dedicated government authority.
The troika would have powers to pluck proposals out of the planning system, or take applications from developers, and would potentially shave years off typical approval time frames, Minns said., which were opposed by local councils. They will come into effect in early 2025.The St Leonards project, led by developer Home, features 272 build-to-rent dwellings, 10 affordable housing units, 84 serviced apartments and shops. The Telstra exchange will continue to operate.
“Because they’re not the block is rated as one site, so you’re getting a huge uplift in terms of new residents, but you don’t get a huge uplift in rates revenue.”to construct a 22-storey building with 188 units, including 48 affordable homes, on the northern side of the Pacific Highway at Crows Nest. That $141 million project, which the council argues is overly large and bulky, is being assessed by the Independent Planning Commission.
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