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Australia: Coronation Property is planning for another large-scale apartment property in Sydney’s Erskineville.
The submitted plans call for 1,082 units across four buildings to be located at the Ashmore Estate at 155 Mitchell Road, Sydney.
Coronation claims the site at Mitchell Road is “one of the last remaining urban regeneration opportunities within the LGA that is capable of accommodating uplift.”
The property is part of a larger project that began in 2015 with Bates Smart and BVN as the designers of the $516-million final project.
The New South Wales (NSW) Government has introduced infill affordable housing bonus provisions, which have been included in the property plans.
Coronation, which considers itself “NSW’s largest build-to-rent developer,” said it wanted to use the bonus to increase the height of the four buildings on Mitchell Road and allocate affordable housing to be managed by Evolve Housing for 15 years.
In 2022, Coronation purchased a development from Greenland Golden Horse at 57 Ashmore Street, at the crossroads of 165-175 Mitchell Street, for $315 million.
Currently, buildings B and C of the estate at 57 Ashmore Street are completed, while buildings A, D and E are still in development.
The estate at 155 Mitchell Road will cover buildings F, I, G and H. Buildings F and I will include 162 built-to-rent apartments, 415 general apartments, a supermarket and a retail location. Buildings G and H will feature basement parking and a total of 505 units, 177 of which will count as affordable housing.
Coronation claims their proposal for 155 Mitchell Street will provide 5.7 per cent of the 18,900 private homes Sydney’s Local Government Area is targeted to produce by July 2029 under the National Housing Accord.
Highlights:
- Coronation Property has submitted plans for 1,082 units across four buildings (F, I, G and H) at 155 Mitchell Road, Erskineville, Sydney.
- Buildings F and I will include 162 built-to-rent apartments, 415 general apartments, a supermarket and retail space.
- Buildings G and H will add 505 units, with 177 designated as affordable housing managed by Evolve Housing for 15 years.
- This new estate is the latest phase of a $516-million project, which began in 2015.
- Coronation claims their proposal for 155 Mitchell Street will contribute 5.7 per cent of the 18,900 private homes Sydney’s Local Government Area is targeted to produce by July 2029 under the National Housing Accord.
