[+] Planning Changes Pave Way for Chatswood Tower Blitz

Taller towers are on the horizon for Sydney’s Lower North Shore with multiple development applications hitting the planning portals. More than four towers were lodged in Chatswood in the past month contributing to the 4000 homes earmarked in Willoughby City Council. The suburb, 10km north of Sydney CBD and with a Westfield shopping centre, benefited from changes to Willoughby Local Environmental Plan and Development Control Plan drafted last year. This included “developing Chatswood as a key commercial centre” and extending the CBD from the Pacific Highway, Chatswood station to the east. The plan permitted mixed-use buildings up to 90m in an effort to move the suburb into Sydney’s top 10 suburban office markets. Thirteen rezoning proposals around Chatswood were also approved around the CBD “facilitating high-density residential development in an effort to increase housing supply and capacity for growth in the area”. The housing market in Chatswood is predicted to remain steady, the median price of an apartment was $1,150,000 and houses $2,850,000, according to Hotspotting’s price predictor. Willoughby mayor Tanya Taylor emphasised the council commitment to providing an appropriate supply and mix of housing to meet the community’s needs, including affordable and essential housing. “We have embraced the growth of our city and have already delivered approximately 1500 dwellings in Chatswood with more to come,” Taylor said. “The new Metro Line in Chatswood is valuable infrastructure and we intend to leverage this to deliver more housing in an effort to alleviate the affordability crisis.” Hotspotting general manager Tim Graham said the latest edition of the Property Price Index found Sydney’s market was recording consistent sales quarter by quarter. “Inner-city precincts with a high content of apartments continue to attract solid demand,” Ryder said. “In the biggest cities, the strongest markets tend to be the more expensive areas where interest rate levels are less impactful because there are many cash buyers, while the cheaper outer-ring precincts are struggling.” The changes spurred on investment in the area including Coronation Property which bought a 2000sq m site last year at 57-61 Archer Street, Chatswood. Four other large-scale development applications have been lodged to council since June 20. ▲ The development application proposed for 44-52 Anderson Street, Chatswood. Bridgestone Projects is behind one of the largest development applications submitted to the council in recent weeks with an estimated cost of $90 million. It was a shoptop, 55-storey development with commercial premises in the first three floors and 95 apartments above. The mix of apartments favoured 3-bedrooms at 77 per cent or 73 apartments along with 16 two-bedroom and six-one bedroom units. The 90m building was designed by Make Architects for the 2687sq m at 44-52 Anderson Street, Chatswood. There was also a swimming pool on the podium and landscaping on the ground level by Turf. ▲ The development application proposed on 5-9 Gordon Avenue, Chatswood. There is a 25-storey tower with coworking space, apartments, and retail planned for 5-9 Gordon Avenue, Chatswood. The applicant, LFD Chatswood Unit Trust, planned 64 apartments above a podium with two retail spaces and four commercial tenancies along with basement carparking. FJC Studio designed the apartment tower with the podium-level pool and cascading greenery by Sturt Noble Associates. The tower expected to cost $67 million would replace aged apartment buildings on the 1522sq m site between the Pacific Highway and railway line. ▲ The development application proposed for 691-699 Pacific Highway, Chatswood. A 27-storey residential building of a similar height was also under assessment by Willoughby City Council. This would create 100 apartments in a mix of 20 three, 66 two and 14 one-bedroom units above four levels of basement parking. The DEM Architects drew up the concept plans for DPG Project 38 Pty Ltd with estimated cost of work at $38 million. The building was for an 1808sq m almost diamond-shaped block across three lots at 691-699 Pacific Highway, Chatswood. ▲ The development application proposed on 58 Anderson Street, Chatswood. A 15-storey shoptop development was recently lodged and is on notification for 58 Anderson Street, Chatswood. The plan was created for property owner Reza Vakili with an estimated cost of work of $31 million. There would be 13 large apartments in the tower designed by Drew Dicksonnn Architects for the 565sq m triangular block. An appliation for a seven-storey shoptop tower with an estimated cost of about $20 million was also in the Willoughby City Council portals. However, documents for the project at 688-692 Pacific Highway, Chatswood were not available. Further down the road Hong Kong-based developer Polytec Group had submitted plans for a 25-storey tower . The slender tower was located at at 629-637 Pacific Highway, Chatswood.

[+] Planning Changes Pave Way for Chatswood Tower Blitz

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