Developer Crown Group are expanding on their multi-billion dollar development pipeline with the submission of a new mixed-use building within Sydney’s $13 billion Green Square renewal.
Crown Group's submission to The City of Sydney follows recent news of their $250 million Clarence Street tower topping out, which is set for completion in mid-2018.
Crown’s proposed development — which has an expected cost of $41.3 million — is an eight-storey building at 44-48 O’Dea Avenue, Waterloo and features 95 residential apartments. The residential mix has been designed to cater for a wide range of socioeconomic groups from single professionals to mature couples and young families.
The proposal has also outlined that 20 units were designed with flexibility and adaptability, to provide housing options for community members and people with disabilities.
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Designed by Koichi Takada Architects, the 30 metre tall building will combine apartments with a commercial and retail level, that has the capacity to accommodate eleven small format retail and commercial tenancies.
“The increased proportion of residential development in this location will help meet the current housing demands near public transport links and proximity to the Commercial Business Districts of Sydney.” Koichi Takada Architects said.
Currently occupying the 3000sq m O'dea site are industrial and commercial assets that will make way for Crown's project, with the site being one of many in the area earmarked to be rezoned for urban transformation.
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O’Dea Avenue is situated within the centre of the Lachlan Precinct which forms part of the Green Square Urban Renewal Area. The City of Sydney has envisioned Lachlan Precinct to become primarily a residential neighbourhood with high levels of active retail and commercial frontages along Archibald Avenue.
As a whole, the Green Square Urban Renewal covers a 278 hectare area and will provide 30,500 new residential dwellings for a projected injection of 61,000 new residents in Green Square by 2030.
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A $13 billion project, the City of Sydney has committed $540 million over the next 10 years to provide the area with community facilities including an innovative new library and plaza, an aquatic centre, many parks and playgrounds, a childcare centre and a creative hub.
Crown Group are currently awaiting decision from the City of Sydney and are yet to specify when the project will commence construction.