Meriton Group is looking to convert its $152 million Sussex Street development after lodging a change of plans with the City of Sydney for its high-rise CBD project.
The development, located at 230-238 Sussex Street, has now been through two rounds of changes after Meriton first lodged plans for an apartment and hotel tower in early 2017 before converting the tower into a hotel development in April this year.
After receiving approval for its hotel proposal in September, Meriton has now reapplied to council returning to its earlier proposal including serviced apartments between levels 17 and 32.
The 32-storey tower, designed by Crone Architects, will now consist of 202 hotel suites between levels one and 16 and 102 serviced apartments with a total gross floor area of 23,646sq metres.
Meriton purchased the site in 2015 for $60 million, acquiring the neighbouring heritage-listed Foley Brothers site for $15 million to consolidate a larger site.
The Foley Brothers site was previously owned by pollster and Haoma Mining Chair Gary Morgan.
Crone won a design competition in 2016 for the site, adapting the Foley Brother’s warehouse to accommodate a heritage courtyard and four-storey hotel lobby.
The high-rise development marks a return to the Sydney CBD for Meriton after a five-year hiatus.
Meriton's Campbell Street serviced apartments in Haymarket was the developers last foray into the CBD back in September 2011.
Despite deteriorating confidence in Sydney’s residential property market, Meriton has remained bullish, lodging hundreds of millions of dollars’ worth of development applications in the greater western Sydney area.
The apartment developer outlined plans for a $229 million proposal on the corner of George and Charles Streets in Parramatta comprising of 767 residential units and 216 serviced apartments.
Plans have also been issued for a $68 million development on Talavera Road in Macquarie Park.