Cbus Property has lodged plans for an ambitious US$700-million (US$485-million) 28-story residential tower in North Sydney.
The Cbus Property joint venture acquired the site at 173-179 Walker Street last year from Sydney developer Avenor and engaged FJMT to design a landmark residential tower for North Sydney.
The apartment tower would also comprise a four-story podium and six terrace houses fronting Walker Street, which are aimed at attracting downsizers, families and professionals.
Five residential buildings will be demolished to make way for the development of the 3,950-square-meter amalgamated site.
Cbus Property chief executive Adrian Pozzo said the irreplaceable views to the harbour and beyond as well as neighbouring Victoria Cross Metro Station were a significant drawcard for the development.
The project comprises three studio apartments, 41 one-bedroom apartments, 68 two-bedroom apartments, and 60 three-bedroom apartments.
It also includes eight three-bedroom sub-penthouses and three four-bedroom penthouses, as well as the six four-bedroom terrace houses on Walker Street.
It is a scaled-back proposal from the 266-apartment scheme presented during rezoning deliberations, with 189 residences and 228 car parks.
North Sydney is on the cusp of a building boom—Thirdi recently won approval for its commercial development, Warada on Walker, and Stockland’s AUD$1.4-billion (US$970-million) commercial tower was also given the green light.
More than 80,000 workers are expected to be working in the North Sydney commercial hub in 2036 as it transforms into a second CBD in the heart of Sydney.
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