Investment manager Investa is moving ahead with plans to develop a co-living project in the Sydney CBD with The Salvation Army.
Plans have been filed for a 17-storey co-living building at 136-140 Elizabeth Street after the partnership was announced in February.
The structured arrangement aims to “realise the potential of the site”.
It will deliver 15 storeys of co-living space for 251 rooms and two storeys of community use.
The basement level of the existing building, currently used by the Salvos, will be adaptively reused to accommodate 100 bike parking spaces and plant equipment.
There will also be 792sq m of communal space to help The Salvation Army deliver services to the community, and public domain improvements on Elizabeth Street.
Designed by Mostaghim, the new building will have outdoor terraces at levels three and eight as well as the rooftop.
The development application filed with the City of Sydney by Ethos Urban said the proposal contributed to the “overall stock and diversity” of residential accommodation in the CBD.
The building onsite was built in 1990 and is The Salvation Army’s primary headquarters in Sydney. It is near the Museum train station as well as Gadigal Metro station and the Chinatown light rail station, and Hyde Park is 150m to the north.
The current four-to-11-storey building would be demolished under the proposal.
The Salvation Army undertook an expressions-of-interest process in 2023 to redevelop the site, which is described as ageing and at the end of its lifespan.
The proposal is a significant shift from initial plans revealed in June of 2023, when The Salvation Army sought expressions of interest for a potential office or hotel partner for a building up to 28 storeys.
