Novus BtR Plans for Concord Highrise Precinct Go Public

The site of the proposed tower dubbed Novus on Loftus, 1-7 Burton Street, 3B-11 Loftus Street and 10-12 Gipps Street at Concord, is 100m from the future Burwood North Metro station that is scheduled to open in 2032.

The site, within the City of Canada Bay Local Government Area and 11km from Sydney CBD, is home to 15 low-scale residential lots.

Proposed are 316 purpose-built build-to-rent units across 28 storeys, a residential lobby and three levels of podium parking for 90 cars. It would be the first of the three towers to be built.

Amenities include a sports arena, residents lounge and co-working space.

▲ Two build-to-sell towers would be connected via a shared podium in the precinct containing Novus of Loftus.

Designed by Rothelowman, the tower is the sixth partnership between the architecture practice and Novus.

The other towers planned for the precinct, both build-to-sell, would be of 11 storeys and 29 storeys, according to State Significant plans now on exhibition. 

These two towers are being developed by LFD Developments.

The two build-to-sell towers would comprise 242 apartments in total, an entry lobby from Burton Street and parking for 318 cars.

There would also be a communal courtyard between the buildings, which would include 15 per cent of the total gross floor area allocated to affordable housing for 15 years, taking up the government’s height bonuses for affordable housing commitments. 

The rezoning aims to amend the land zone map to change maximum floor space ratio to 5:1, and building height controls up to 78m, to allow additional housing in the transport catchment area. 

▲ The trio of buildings would surround a central courtyard.

Pending approvals, construction is expected to begin early next year.

Novus co-founder and chief development officer Jason Goldsworthy said the developer was targeting 10,000 homes across the country.

“NSW Policy reform has slowly been opening the door to growth in the build-to-rent sector, and we are very pleased to be able to expand our portfolio in Sydney,” he said. 

“We’ve seen the concept of build-to-rent proven by the success evidenced in Victoria and look forward to seeing the same success here.”

The milestones comes after Novus signed a building contract with Binah for its Chatswood project, Novus on Albert, where early works and demolition are now under way. Its Novus on Victoria project was approved earlier this year.