Sydney-based developer Danias Holdings has received the go-ahead for its $48 million creative precinct located on a former industrial site in Sydney’s inner west.
Danias received development approval from the Sydney Eastern City Planning Panel for its 18-hectare site, located at 1-9 Rich Street in Marrickville, which will now accommodate 460 artists, creatives, designers and start-ups as part of a new arts and office precinct.
The development, dubbed the Rich Street Creative Arts Hub, will comprise 10,000sq m of commercial office and 3,000sq m of public space, including markets, a central courtyard, cafe outlets and an outdoor events space.
The industrial site on Rich Street, adjacent to the Factory Theatre, is owned by Danias Holdings and was once used to store surplus stock for their nearby timber yard.
The site is currently used for storage and work spaces by about a dozen local people.
The long-time local family business set plans in motion to develop the site almost six years ago lodging plans for a major commercial and creative industries centre in November 2017 to reshape Marrickville's industrial heartland.
At a meeting in April, the Sydney Eastern City Planning Panel approved two of the three buildings in the proposal, as well as the public domain elements.
Concerns over the third building – the “Marker Building” at 1 Rich Street – led the panel to ask the proponents to further engage with an Architectural Excellence Panel.
The panel assessed the reviewed plans which altered the facade composition and proportions.
Stage one of the development includes the construction of two new buildings, a three-storey “North Hub” and a 4-storey “South Hub”. On ground-level, space is allocated for food and drink premises and studio spaces, with offices on the upper level.
The second stage is the construction of the 5-storey building on the corner of Victoria Rd and Rich St, with a roof terrace at level six.
Sean Macken, planning consultant for the developer, told The Urban Developer Danias were planning to build and operate the precinct and actively curate the Rich Street Hub.
“The development will provide a much needed and affordable place for creatives and start up businesses to work.”
Macken noted that project leads were still finalising the development's timetable but were targeting to have the precinct completed by 2021.
The developer is also eyeing a range of new format commercial industrial and distribution developments in and around Marrickville.
The creative precinct adds to a number of developments that could drastically change the suburb – with Mirvac looking to build 220 apartments across three buildings and a new library and community hub on the site of the former Marrickville Hospital.
The ASX-listed developer is also looking to rezone a large section of Carrington Road near the Cooks River, for $1.3 billion worth of high-rise apartment towers.