Japanese-backed developer Sekisui House has received planning approval for stage 1 of its riverfront masterplanned community, Sanctuary, in Sydney's Wentworth Point.
Sekisui House paid $360 million for the Wentworth Point site in October 2016 to the NSW Roads and Maritime Services.
The Landing is phase one of the Sekisui House's $1.9 billion Sanctuary development that will involve six stages creating a total of 2300 apartments across 20 buildings.
Stage 1 will see comprise 364 one, two and three-bedroom apartments across three low-rise buildings and a 28-storey tower, as well as 16 terraced family homes and 12 two-storey maisonettes.
Stage one of the masterplan, located at 14-16 Hill Road, was designed by Japanese architects Kengo Kuma.
It is understood that more than 50 per cent of the first stage has been sold prior to launch.
The 9.5-hectare site benefits from its central Sydney location with Parramatta, Rhodes, Sydney Olympic Park within the vicinity and close access to shopping centres, amenities and schools.
The development will also create a network of pedestrian and cycle paths throughout the site to link as well as 6,574sq m of public space.
“Now, more than ever in our busy lives, a connection between nature and the community is vital and we apply this thinking in every development we design,” Sekisui House sales and marketing operations manager Paul Wainwright said.
“We are confident that Sanctuary’s Landing will benchmark the standards of quality in public and private spaces, with more and more people wanting a home that provides convenience, access, balance and calm in their lives.”
Sanctuary's riverfront position provides a variety of transport options with a ferry terminal on its doorstep, bus and train services and eventually the proposed light rail to Parramatta.
Earlier this week, Sekisui House lodged development plans for the second stage of its controversial West Village project in Brisbane's West End.
Sekisui House also has approval for a $1 billion, 1300-apartment masterplanned development in Sydney's Hills Shire district which is marked for completion in 2025.
The developer has recently been given the green light to build its $900 million Westin Coolum Spa and Resort on the Sunshine Coast.