A private group has submitted $237 million plans to build 469 apartments in Waterloo’s Danks Street South Precinct.
The development plans were lodged by Mirvac former finance director Dennis Broit and Sydney-based Jeffrey Eisman and Cheryl Sallick under the company Jeffman Pty Ltd.
The plans include demolishing a series of industrial warehouses to create a staged subdivision with five development lots, a park and a new road between 881-893 Bourke Street and 207-229 Young Street.
Architecture firm Turner Studio has been tapped to design the five building scheme, comprising 469 apartments on the Waterloo site.
Eleven blocks make up the Danks Street South Precinct, with owners including Jeffman, Chinese developer Dahua Group, City West Housing and Strata Industrial, according to the 2018 government planning proposal for the area.
The 92,500sq m precinct contains warehouses, industrial units, a large drycleaners and unused land as well as Sydney Water and Ausgrid heritage-listed buildings.
Dahua has also submitted a proposal for 450 units on their portion of the precinct in May 2019.
Related: Dahua Moves On $350m Masterplan
While City West Housing has gained approval for 74 apartments but the development was put on hold until the potential yield uplift was finalised and investigated.
Areas to the north of the block along Danks Street were not included in the precinct plans such as the former Danks Street Produce Market warehouse, which sold for $25 million in April 2019 .