Sydney-based developer Avenor has been given the nod to begin building a 30-storey apartment tower at 175 Walker Street in North Sydney.
The project, dubbed East Walker Street, is being delivered in partnership with Singapore-based Oxley Holdings.
Conditional approvals for the project have been in place since early 2020 after Avenor amalgamated the 4000sq m high-density, residential zoned, North Sydney site between 2017 and 2019.
The proposal, for 280 apartments, has been pending gateway determination since February, 2020.
Architect SJB and Aspect Studios have been appointed to design the residential project, described as a “luxury residential tower”.
Avenor, formed in 2017, is headed by former Leighton Properties executives Peter Clemesha, Stephen Rayleigh and James Paver.
Its services include development and investment partnerships, development management and and project management for institutional grade commercial, residential, mixed use and health projects in core cities across the country.
Paver, managing director of the property group, said the project, once realised, would provide residents with panoramic views of Sydney Harbour and the Sydney Opera House.
“It’s the perfect time for the state government and councils to unlock projects like this,” Paver said.
“This project is right in the sweet spot of the Avenor playbook, being a creative structured acquisition that brings simplicity and life to a complex puzzle.
“It’s a thoroughly tested building envelope that caters to the myriad of stakeholders with various local agendas, and provides a focus on unlocking excellent public benefit.”
Paver said the developer had undertaken “complex” stakeholder management leading up to its approval.
Avenor facilitated two community consultation processes which informed the project’s design principles to ensured that it did not overshadow a nearby public park.
The developer also proposed to contribute towards a pocket park on Hampden Street as well as local affordable housing.
Nearby, construction has started on a $1.2-billion commercial tower rising to 42 storeys above the future Victoria Cross metro station being delivered by Lendlease.
Stockland also has plans in front of council for a $500-million office tower at 110 Walker Street.
For Avenor, the approval marks the second successful major project establishment and gazettal in 12 months.
The first being Atlassian’s 40-storey commercial mixed-use tower, which will anchor the Sydney Innovation and Technology Precinct at Sydney’s Central Station.
That tower will include approximately 70,000sq m of gross floor area including a YHA accommodation facility of approximately 500 beds, and over 50,000sq m of NLA for Atlassian, as well as a major publicly accessible pedestrian link.
Avenor is advising Atlassian and Dexus—which is partnering with the technology provider, committing $1.4 billion towards the project last month.
Avenor is also pressing ahead with Connex, a 17,000sq m, A-grade commercial development located in the Mascot town centre, close to Sydney Airport.
In Penrith, the developer is delivering a similarly positioned 8000sq m A-Grade commercial office development at 129-133 Henry Street.
