Third.i’s Crows Nest Metro Stage Wins Consent

Sydney developer Third.i and joint-venture partners Phoenix Property Investors have been granted consent by the Sydney Metro for their Hume Place over-station development. 

Designed by Woods Bagot, Stage 1 of the project over the Crows Nest Station, dubbed Elevate, consists of 130 apartments.

Stage 2 of the project will offer 476 one, two and three-bedroom apartments and operate as a build-to-rent project and includes 60 affordable apartments.

Amenities for Stage 2 announced late last month include a health and wellness centre, golf simulator, co-working space, cinema, rooftop bar, pool, and music rooms.

Third.i and PPI will team up with community housing provider Evolve Housing to manage the project, offering one full tower of Site A as affordable housing in perpetuity.

Third.i and PPI was granted Stage 1 approval for the Metro Precinct development for sites A and B, before amending the concept State Significant Development Application (SSDA) for Site A for mixed-use, which includes affordable and private housing, retail and commercial floor space.

The amended plan, which was approved by Sydney Metro, includes 15 per cent, or $100 million worth, of accommodation for frontline workers at the nearby Royal North Shore and Mater hospitals.

▲ Sydney Metro has given approval for the Crows Nest development in an area earmarked for TOD rezoning.

The amended concept SSDA is compliant with the transit-oriented development rezoning proposal for Crows Nest announced earlier this year, which would add 3255 homes in precincts within a 1.2km radius of the Metro station.

Third.i last month said its Stage 1 Elevate project had attracted 300 appointments in its opening weekend, of which 25 per cent were Australian-based buyers, with a skew towards downsizers aged over 55.

Twenty-five per cent of interest was from Asia, and the remaining 50 per cent defined as investors, particularly from Singapore and Hong Kong.