NSW approves $160m facelift for St Leonards

19 May 2020, Written by Business News Australia

NSW approves $160m facelift for St Leonards

The NSW Government has given the nod to rezoning proposals from the North Sydney Council that will bring a range of residential and commercial developments to the suburb of St Leonards.

The approval forms part of a fast-tracked assessment program from the state government to keep people in jobs and the economy moving through the COVID-19 pandemic.

Proposals include 500 new homes to be built, along with new retail outlets, cafés, restaurants, and new and upgraded public parks.

The rezoning approvals include:

  • 575-583 Pacific Highway: the site has been rezoned to allow for an 18-storey residential tower that will retain the local heritage of the existing building façade. The proposal will create 63 jobs and inject $31.4 million in to the economy;
  • 100 Christie Street: the rezoning will provide an upgrade to Christie Street Reserve and allow a 36-storey residential and commercial tower to be built, replacing the existing office building. It will create 164 jobs and inject $82.2 million in to the economy; and
  • 23-35 Atchison Street: the site can now accommodate a 16-storey building, provided a new park is created along Oxley Street and Hume Street Park is upgraded. It will create 92 jobs and inject $46 million in to the local economy.

"St Leonards already boasts a thriving commercial sector and these approvals will pave the way for more people to live close to where they work in a vibrant community hub," says NSW Planning and Public Spaces Minister Rob Stokes.

"In the past two weeks alone, the Planning System Acceleration Program has injected more than $2.4 billion into the state's economy and created opportunities for more than 17,500 jobs.

"The NSW Government has all hands-on deck to ensure ongoing investment in our state and to help provide as many jobs as possible."

To be considered for an accelerated assessment, the development application (DA) or rezoning must already be progressed within the planning system, deliver a public benefit, demonstrate an ability to create jobs, and be able to commence construction or lodge a DA within six months.

Updated at 12:04pm AEST on 19 May 2020.

 
Author: Business News Australia

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