$160 million injection in North Sydney for more homes, parks and retail
St Leonards in North Sydney is set for a major facelift, after the NSW Government approved three major rezoning proposals that will inject almost $160 million in to the suburb and create more than 300 local jobs.
Planning and Public Spaces Minister Rob Stokes said the green light to North Sydney Council’s rezoning proposals will see more than 500 new homes built in the suburb, as well as new retail outlets, cafés, restaurants, and new and upgraded public parks.
“St Leonards already boasts a thriving commercial sector and these approvals will pave the way for more people to live close to where they work in a vibrant community hub,” Mr Stokes said.
The rezoning approvals in St Leonards include:
- 575-583 Pacific Highway: the site has been rezoned to allow for an 18-storey residential tower that will retain the local heritage of the existing building façade. The proposal will create 63 jobs and inject $31.4 million in to the economy.
- 100 Christie Street: the rezoning will provide an upgrade to Christie Street Reserve and allow a 36-storey residential and commercial tower to be built, replacing the existing office building. It will create 164 jobs and inject $82.2 million in to the economy.
- 23-35 Atchison Street: the site can now accommodate a 16-storey building, provided a new park is created along Oxley Street and Hume Street Park is upgraded. It will create 92 jobs and inject $46 million in to the local economy.
Approval of the rezoning proposals will allow development applications to be lodged immediately, and must be within the next six months.
The three rezoning proposals are part of the NSW Government’s Planning System Acceleration Program, which is fast-tracking planning assessments to keep people in jobs and the economy moving through the COVID-19 pandemic.
“In the past two weeks alone, the Planning System Acceleration Program has injected more than $2.4 billion into the state’s economy and created opportunities for more than 17,500 jobs,” Mr Stokes said.
To be considered for an accelerated assessment, the development application (DA) or rezoning must already be progressed within the planning system, deliver a public benefit, demonstrate an ability to create jobs, and be able to commence construction or lodge a DA within six months.
“The NSW Government has all hands-on deck to ensure ongoing investment in our state and to help provide as many jobs as possible,” Mr Stokes said.
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