Mid-rise developments for families in Sydney’s Lower North Shore are expected to rise as work progresses on two neighbouring sites.
In Willoughby, Quadrant Properties and capital partner Qualitas is working on a five-building project complete with a playground across a 1.12ha site at 5 Walter Street.
Dasco started construction on the 164-apartment Willoughby Grounds project, designed by Architecture Urbaneia, to reflect industries that existed in the area. It is due for completion mid-2025.
The neighbouring Nine by Mirvac is due for completion this year. It comprises 442 apartments across 10 buildings on a 3.2ha site at 24 Artarmon Road, Willoughby.
Ray White director lower North Shore Tim Abbott is working with the Willoughby Grounds project and said the area and appetite was changing.
“It’s predominately an area that is houses and families, so there are not a lot of apartment buildings in Willoughby,” Abbott said.
“Unlike some of the more densely populated areas it has a lot of parks, cafes and walking trails.
“We don’t often see four bedroom units available on the Lower North Shore and I think there will be strong interest from families and downsizers for these.
“The kids playground in the common area will be a real attraction to families who will see the larger apartments as an alternative to buying a house in the area given the convenience of living so close to the CBD, without being in a high-rise development.
“The project has been designed to ensure the strata fees are low which will appeal to both owners, occupiers and investors too.”
The region was impacted by the NSW Government’s reforms to introduce medium-density multi-dwelling housing in low-density areas, which was announced in December.
Thanks to that, more developments of this kind are expected to be put forward for the area.
Both developments feature playgrounds, which could be a drawcard for families and the 7000 people aged between 30 and 40 who leave inner Sydney each year.
The NSW Government released a paper earlier this week that supported rezoning to attract families and people who contribute significantly to Sydney’s gross domestic product.
NSW Productivity Commissioner Peter Achterstraat said that if the state did not act “we could become a city with no grandchildren”.
“These are thousands of people who’d be starting and raising families, filling good jobs, starting businesses, employing people and contributing to communities.
“But the housing crisis is forcing them out.”
However, the changes to low-density areas as well as 800m around stations and local centres by the state government has caused a stir among councils across Sydney.
Willoughby City Council is concerned that the proposal “will reduce the quality of development outcomes; the proposal includes various non-refusal standards that will override stricter council controls”.
Communities can have their say on the proposed changes until February 23, 2024.
