Astute is finalising plans at the site of a steel manufacturing shed in Sydney’s inner-south to create a boutique apartment block.
The Sydney-based developer has tweaked its approved plans for the 1883sq m site at 59-99 Belmont Street, Alexandria.
The brick facade of the shed and structural bay would be kept as a garage entrance and a four-storey block with 23 apartments would be built at the back at an estimated cost of $17 million.
“The context of the site is highly eclectic and is rapidly changing from being of an industrial character to a new residential neighbourhood,” the report by Sutherland & Associates Planning said.
“The subject site is the last redevelopment in the street block to the east of the Alexandria Park Community School, with many sites already converted to residential use during the past decade.”
Buyer demand for apartments in well-connected locations were on the rise in inner Sydney, according to the Hotspotting Price Predictor Index for Spring.
Alexandria had a median unit price $925,000 and was ranked as a recovering market, recording strong rising quarterly sales volumes.
Benson McCormack Architecture said the altered design had more of a “dialogue with the retained brick facade of the industrial building” than the 2020-approved plans.
“By introducing playful framed glazing elements in a colour that related to the retained brick and curved shapes that talk to the two retained gables while keeping the brick canvas they sit in simple the proposed facade now has a much improved and respectful integration with the old building,” the architects said.
