New plans for a 49-storey Pitt Street tower have been lodged in another attempt to redevelop the 123-year-old Tattersalls Club in Sydney's CBD.
Melbourne-based developer ICD Property and the City Tattersalls Club submitted the application for a $271.7 million project following the rejection of an earlier proposal at the 194-204 Pitt Street address.
City Tattersalls Club chief executive Marcelo Veloz said the submission was a major milestone, after the NSW Land and Environment Court declined plans for a $200 million tower in May on the basis the airspace development atop the art deco building would have negative heritage impact.
“The process of rethinking the proposal, while carrying out extensive consultation with stakeholder groups on key aspects, including heritage conservation elements and planning matters over the past year, helped all parties develop a more considered submission,” Veloz said.
Fjmt prepared an illustrative design to demonstrate the potential to create a complete re-development of the building's envelope.
The new proposal includes a boutique 100-room, four-star hotel and a 246-residential apartment tower.
ICD Property’s deputy managing director Matthew Khoo said the activation along the ground floor with modern restaurants and bars would encourage public connectivity.
“We’ve also greatly considered how to best integrate the building into its neighbouring surroundings to ensure the highest quality outcome not only for the site but the entire surrounding area,” Khoo said.
The 49-storey development project will also deliver ICD Property’s first project in Sydney’s market.
The developer's recent residential projects include the 65-storey Eq Tower in Melbourne, and a Woods Bagot-designed 50-level skyscraper in Auckland, New Zealand.
Subject to City of Sydney's concept approval, architects will be invited to participate in a design competition. A jury, along with ICD Property will then select the final architect for the Pitt Street development.