TWT Property has plans to turn a St Leonards site into a residential and commercial precinct after a $35-million spend in the Sydney suburb.
Plans are still being formulated for the 1080sq m site at 50-56 Atchison Street, the first step in the developer’s proposed $1-billion mixed-use project to be known as The Collective.
The masterplan would span 9500sq m over multiple blocks on Sydney’s Lower North Shore.
TWT has already developed a commercial project of 4000sq m across three blocks in the suburb, which is now home to 70 art studios, multi-media firms and recording studios.
The St Leonards site acquisition made TWT one of the largest landowners in the suburb, according to the developer.
The newly acquired site is near the St Leonards Station and the future Crows Nest Station.
Development on the North Shore has continued to ramp up this year and includes the approval of Top Spring Australia’s 1.26ha community, The Newlands.
It will add to Top Spring’s pipeline in the NSW capital that includes luxury residential apartment projecrts at Bondi Junction and Darling Harbour.
The NSW government has put forward a plan to 2036 for St Leonards and Crows Nest, outlining infrastructure development and other residential development in the area.
These developments include upgraded cycle and pedestrian pathways, and more surrounding greenery.
