The updated development application was made possible and approved under the Minns Labor Government's new Infill Affordable Housing pathway.
This will provide much needed housing for young people and families at a time where Sydney is at risk of becoming a city without a future due to the lack of affordable housing.
The Rozelle site has been derelict for more than 15 years. It will now be rejuvenated with a 2-16 storey mixed use development which in addition to new homes will boast a registered club, new supermarket, community facility and public plaza.
The $285 million project will bring vibrancy to the local area and create 416 construction jobs and 452 operational jobs.
The Infill Affordable Housing planning pathway is a key part of the NSW Government's new housing reforms and offers height and floor space bonuses of up to 30 per cent for residential developments when at least 10-15 per cent of their total gross floor area is offered as affordable housing.
This is a reform aimed at delivering more affordable housing where it is needed.
To date, under the In-fill Affordable Housing pathway, 10 development applications (DAs) have been approved with a further 38 under consideration.
When accounting for DAs lodged, up to 9,120 private dwellings could be constructed with 2695, affordable homes included.
This is part of the Minns Labor Government's plan to build a better NSW with a greater choice of homes, so young people, families and workers have somewhere to live in the communities they choose.
