Novus’s plans for a shoptop build-to-rent skyscraper on Sydney’s Lower North Shore are on exhibition.
The 46-storey project, dubbed Novus on Victoria, is the second application by the build-to-rent developer and operator at Chatswood.
It follows the Rothelowman-designed 30-storey Novus on Albert, revealed in 2023 and now going through the planning process.
FK has designed the proposal slated for 410-416 Victoria Avenue, Chatswood, that is on exhibition with the NSW Government major projects portal.
Novus on Victoria has an estimated cost of $163 million and comprises 260 apartments, landscaping on levels two, six and 23, three basement levels and ground-floor retail.
Pools, cold plunge, sauna, gym, co-working facilities, outdoor terrace, resident lounge, dining areas and a multi-purpose yoga and spin room are also included in the plans.
The Ethos Urban planning report said the tower would replace small commercial buildings on the 1050sq m site that is bound by Post Office Lane, Victor Street and Victoria Avenue.
The report said the tower would revitalise a “currently underutilised site, which will help in catalysing the growth of the Chatswood CBD with a residential living component that demonstrates design excellence”.
“Facilitating the delivery of 260 build-to-rent homes in a highly accessible and amenity-rich location supports the existing shortfall of housing options and the requirement to deliver 6000 to 6700 new dwellings in the Willoughby LGA by 2036.”
Last month the developer filed plans to convert a residential project at Epping to build-to-rent.
Novus filed those plans with the City of Parramatta after picking up the site in 2023 for an undisclosed sum.
The approved plans for the site comprised 244 build-to-sell apartments. The updated scheme reduces the number of carparking spaces to add more amenity for the rental market.
Sydney’s build-to-rent sector gained momentum this year when the project pipeline in NSW overtook Queensland.
NSW had 15,089 build-to-rent units completed, under construction or planned, compared with Queensland’s 14,390 units, according to Knight Frank.
