Chinese-backed local developer Landream has lodged plans for a $220 million mixed-used project in the Sydney suburb of Pyrmont.
The Melbourne-based developer, which lodged a broad stage one development application in October to the City of Sydney, has now followed up with fleshed out plans for its 1.2 hectare site at the corner of Fig and Wattle Streets.
The 45,000sq m Tzannes-designed development will comprise exactly 250 apartments, some of which will feature water views, across three buildings ranging from eight to four storeys.
Together the three residential buildings, to be known as Wattle, Jones and Fig based on their street frontages, will provide upwards of 26,669sq m of residential floor space.
Landream has also allocated 16,000sq m of A-grade commercial space in the lower tier of its third building fronting Fig Street.
The development will also feature a 2,300sq m for a new child care facility and 3,200sq m for a two court indoor sports centre which will be handed back to the City of Sydney Council upon completion.
Additionally, Landream will provide ground floor retail, public links for direct access to the light rail and open spaces as well as parking for 241 cars.
Landream—which bought the former quarry and then depot site near Blackwattle Bay in 2018 for $200 million—said the design celebrated the site’s history and would mark the first time the property had been developed in 100 years.
Under the plans, the existing stone face leading to Jones Street will be integrated into the project’s second building, “as a nod to the site’s past”.
A through-site link to Jones Street built into the plans, which would be fully accessible to the public 24 hours per day.
Landream managing director Kevin Li said the project represented an opportunity to revitalise a major part of the Pyrmont precinct.
“We think the opportunity to provide large and connected floor plates with direct access to fantastic amenities like Wentworth Park and the Pyrmont foreshore will be very appealing to a wide range of tenants seeking flexibility and a unique identity,” Li said.
The development will be located near the soon-to-be revamped Sydney Fish Markets, the harbour foreshore and Wentworth Park and on the doorstep of the light rail, while also nearby to two universities and Chinatown.
The project will be the latest project for Landream, which develops, manages and owns a diverse portfolio of property across New South Wales and Victoria.
The company, which arrived on the Sydney scene with record-breaking sales at its luxury development Opera Residences at Circular Quay in 2017, is known for its slow-and-steady approach to the apartment market in blue chip locations.
Last month, the developer cashed in its planned $700 million 55-storey development at 600 Collins Street in Melbourne.
The developer sold the site for $200 million to US development and investment giant Hines.
Landream had initially touted plans to bring one of the world's most recognised luxury hotel operators, the Hong Kong-based Mandarin Oriental Hotel Group, to Sydney as part of its Zaha Hadid-designed tower.
The developer said it remains on track to deliver residential, commercial, land and mixed-use projects with a gross development value of more than $3 billion by 2025.