ApartmentsPatrick LauWed 04 Nov 26
Level 33 Swaps Podium Car Parks for Shops in $128m Homebush Towers
Two towers of 27 and 35 storeys are to rise at Homebush after Level 33 won approval for its $128-million mixed-use project.
To be developed at 17-24 Loftus Crescent, the scheme approved as a State Significant Development via the NSW Government’s Housing Delivery Authority has a yield of 318 apartments including 12 affordable.
Post-exhibition amendments have converted parking spaces to retail tenancies in the DKO-designed project, and setbacks have been increased.
The project is about 15km west of the Sydney CBD, and less than 300m from the Homebush train station.
The 3980sq m site has frontages to Loftus Crescent, Subway Lane and Loftus Lane.
About 594sq m, or 15 per cent, will be dedicated to the Strathfield Council for road widening.
A minor increase means gross floor area will now reach a total of 31,259sq m, instead of 31,083 square metres. Floor space ratio has bumped slightly upwards from 7.81:1 to 7.86:1.
Parking spaces for 320 cars, revised down from 358, will be provided in a basement and at levels one to three.
In response to comments by the council, five car share spaces and two EV charging stations have been added.
Additional retail space of 150sq m has been added to the first floor, sleeving the carpark.
Meanwhile, Level 33 advanced plans for projects at Kellyville and Wollongong in September.
A total development cost of $788 million would be split evenly between the two projects, at $394 million each.
Development is also picking up in the neighbouring suburbs of Concord and Olympic Park.
In October, Urban Property Group exhibited a $780-million, 1222-home precinct at Concord West, with the first stage also featuring a $394-million price tag.
Head of planning Chris Ferreira told The Urban Developer that a 2 per cent affordable component, held in perpetuity, made more sense for the area than a time-limited model.
And in April, an expanded masterplan for Olympic Park was approved, adding 2000 homes to yield a total of 15,000 new residences by 2050.
