Sydney’s inner west earmarked for $2.2 billion residential, retail project
Sydney developer Billbergia is reportedly seeking to fast track a multi-billion-dollar mixed housing and retail project in the city’s inner west.
VACANT warehouses in Sydney’s inner west will be transformed into a $2.2 billion residential and retail hub by high-profile developer Billbergia, the Australian Financial Review reported.
The development application for the Concord West precinct would be one of the biggest submitted to the NSW government’s new Housing Delivery Authority (HDA), which allows developers to bypass councils, the AFR reported on Wednesday.
The government launched the HDA to streamline planning rules in a bid to meet its target of 377,000 new homes by 2029. Critics say it gives greater opportunities for profit-driven land banking and includes no mandates to provide meaningful affordable housing.
The Concord West proposal included more than 1000 new homes, a mini sports field, a playground, shops, a cafe, and a childcare centre, the AFR reported. Vacant warehouses on the three-hectare site will be replaced by eight residential towers, according to the report.
Billbergia on its website said the project built “on the plan endorsed by the City of Canada Bay in 2023 for mixed-use development”.
“The updated proposal increases the number of homes, introduces affordable housing, and adds significant public open space and infrastructure upgrades,” it said.
It would deliver more than $100 million in funding to support state and local government infrastructure, including affordable housing contributions and money for major intersection upgrades to local streets, the developer said.
Last month, local media reported that Billbergia was also seeking housing delivery authority greenlight for a contentious development at nearby Wentworth Point that was originally slated for 350 apartments but could be fast-tracked to host 1,200 units.
