ApartmentsPatrick LauTue 01 Sep 26
First Quadrant Moves Ahead with $77m Unit Scheme on North Shore
First Quadrant’s $77-million apartment proposal for its Neutral Bay site are moving forward.
Now on exhibition, the scheme has a 28-home yield proposed.
Designed by Corben Architects, SEARs for the state-significant proposal on Sydney’s North Shore were first requested in May 2024, but a fresher batch was issued in May of this year.
The eight-storey scheme would rise on a 1434sq m site at 3-5 Yeo Street, with gross floor area of 3781sq m. The site is about a 1km from Victoria Cross metro station.
A 12-apartment block and a single detached residence would be demolished on the site’s two lots to make way for the project, which is on until September 3.
The project would comprise18 three-bedroom apartments, two with one bedroom, seven of two bedrooms and a single four-bedroom home, along with 45 car parking spaces.
An affordable component of six apartments would permit floor space ratio of 2.86:1. However, the project is only applying for FSR of 2.64:1.
The project directly borders a heritage-listed park, and while zoned R3 for medium-density residential use is adjacent to R2, R4 and church land uses.
The proposal joins a slew of midrise schemes across Neutral Bay, including Vatera’s $52-million, 37-apartment application at 26-28 Barry and 17-19 Lindsay streets. That project was knocked back by the council in 2022, but has returned at more than double the height using state provisions.
A $22-million, 10-home complex by Primo Developments is in progress at 6 Raymond Road and 25 Thrupp Street. Meanwhile, 600m to the west of the First Quadrant site, Woolworths’ development arm Fabcot has secured approval for a $191-million, 97-apartment shoptop redevelopment.
And at 56-64 Barry Street, Central Element is pursuing a $52-million, 45-apartment proposal. On August 28, Central Element also broke ground on its $150-million seven-home Pearl project overlooking Bondi Beach.
