Plans to upscale an approved residential tower have been filed for a vacant block near the Liverpool CBD.
Madrid Capital Group Pty Ltd submitted the plans to take the tower up five storeys to 15 levels.
The highrise would comprise 69 apartments on the site at 36-40 Speed Street. That includes 30 three-bedroom apartments.
Liverpool City Council in 2023 approved a deferred commencement for a 10-storey tower of 58 apartments on the site.
The 1912sq m site is zoned R4 high-density residential and is surrounded by aged four-storey flats, the bricks of which would be reflected in the facade of the lower levels of the new tower.
The Studio 5253 designed-scheme includes 27 affordable apartments to take advantage of NSW height bonus incentives.
The developers, Sydney-based investors Weiguo Ma, Yingkui Li and Xiao Li, are looking at an estimated $43 million expected cost for the scheme.
There are also 68 carparking spaces, 12 bike bays and a rooftop space with a pergola, seating and barbecue area designed by Conzept included in the plans.
The lure of Liverpool for developers has become more obvious in the past six months with multiple large-scale applications in the works.
The largest is Coronation Property’s 32ha Moore Point River City comprising 11,000 homes on the Georges River, which was fast-tracked in December under the NSW Government’s State Significant Rezoning Policy.
Meanwhile, a mixed-use development comprising 190 apartments, a 118-key hotel and 110-place childcare centre in a 38-storey tower at the corner of Terminus and Charles streets was also filed last month.
And the Built Development Group gained approval for its 320-apartment proposal as part of its Liverpool Civic Place plans in July.
Also around that time the NSW Government ordered a public inquiry into the Liverpool City Council after a scathing report outlined serious concerns about widespread dysfunction and maladministration within that council.
