Deicorp Greenlit for Five-Block Green Square Precinct

Deicorp has won approval for its 571-apartment mixed-used precinct in Sydney’s south.

The precinct approved for Joynton Avenue at Zetland comprises five main buildings designed by leading architectural firms Candalepas Associates and FK.

The scheme, part of the 278ha Green Square precinct, was granted approval by the City of Sydney’s Central Sydney Planning Committee.

Deicorp founder Fouad Deiri said the project added momentum to their plans that included 3000 apartments under construction and another 3000 in the planning pipeline.

The projects will include two buildings with 341 apartments designed by Candalepas Associates with Lachlan Seegers Architect, and 230 apartments across three buildings by FK with Besley Spresser.

The designs were chosen early this year after a competitive design process managed by the City of Sydney.

The development will include 810sq m of retail and commercial space.

The Sydney-based developer signed a $180-million deal for the 2.86ha site in 2022.

The developer said the project would provide a $28.1-million contribution to council for the provision of new affordable housing homes, as well as open-space upgrades to Biyanbing Park, road works in Zetland, Ascot, George Julius, Victoria Park, Grandstand and Defries Avenues, at an estimated cost of $16.7 million.

The Zetland site had been used for industrial warehouse purposes, most recently by Ausgrid, the largest electricity distributor on Australia’s east coast.

The project is surrounded by major developments, including Meriton’s mixed-use project around Nuffield Park, and is within Green Square—“Australia’s largest urban renewal area”—which has been subject to “significant transformation” covering 278ha with 11 precincts.

It is forecast to result in 32,000 new homes by 2036 and developers, including Mirvac, are moving in on the action, delivering 1600 apartments in its latest tranche of developments after taking over from Landcom.