The fast-growing Sydney suburb of Zetland may soon welcome two mid-rise residential buildings after developer Toplace lodged a development application last week.
Toplace, led by Jean Nassif, has enlisted architecture firm PTW to design the $52 million project in Sydney's inner-east.
The proposal, comprising two 7-storey buildings containing 181 apartments and 110 car spaces, will straddle two neighbouring sites on the corner of Bourke Street, O'Dea Avenue and intersected by Kingsborough Way.
If approved, the existing light industrial warehouses occupying each site will make way for upwards of 15,549sq m of residential apartments as well as 80sq m of retail.
Zetland, a former industrial zone four kilometres from Sydney’s CBD, has been in a state of flux since 2016 undergoing rapid gentrification with a rich pipeline of high-density apartments being built across the suburb and neighbouring Waterloo.
The Green Square urban renewal—encompassing Waterloo, Zetland, and parts of Alexandria and Rosebery—is forecast to record a near tripling of its population from 24,000 people to more than 60,000 within the next 12 years.
Off-the-plan projects include the soon-to-be completed Waterfall by Crown Group in Waterloo which will deliver four towers ranging from seven to 20-storeys and Mirvac's four tower development, known as Site 15, which follows the developer's previous completions of the Ovo and Ebsworth apartment buildings.
According to its website, Toplace—a developer and builder—has a multi-billion-dollar pipeline of projects and has delivered more than 30,000 residences since 1992.
The developer is currently undertaking a $720 million estate in the neighbouring suburb of Rosebery, after picking up the 3.3-hectare masterplanned site from the Magid family in 2013.
Late last year, the developer snapped up an apartment site in up-and-coming western Sydney suburb Granville.
Vendor DPG Project 6 listed the 34-42 East Street site with an approved scheme for 91 apartments.
Toplace outlaid $8 million for the 1,557sq m site which is part of an original three-tower project on the location. Toplace had already developed the other two towers.