Critically the development will include a 7.5 per cent affordable housing contribution that will remain affordable housing in perpetuity.
The finalised Rezoning Proposal made possible by the Minns Labor Government's State Significant Rezoning Policy has amended planning controls in the Sydney Local Environmental Plan 2012 (LEP) to allow more residential floor space as part of the revitalisation of the harbour foreshore.
Sydney is losing twice as many young people as we are gaining with housing costs now the single largest cost to families in our state. This project will deliver critical new homes for these young people and families who have been locked out of housing.
Along with the delivery of new homes close to transport, over half of the Blackwattle Bay precinct will become open and accessible to the public, including a 1.1 hectare waterside park surrounding the southern pylon of the Anzac Bridge.
A new waterfront promenade will complete the missing link of the 15 km foreshore walk connecting Rozelle Bay to Woolloomooloo.
Infrastructure NSW will soon select a development partner to deliver the 3.6-hectare mixed-used site, following an open and competitive expression of interest process.
The three shortlisted developers Lendlease, Mirvac and Stockland will submit their proposals for evaluation in July.
The NSW Government will then work with the preferred development partner to commence work on the project as soon as possible, prioritising delivery of public spaces along the waterfront.
When complete, the landmark site will deliver housing, commercial spaces, retail and cultural experiences to create a vibrant, sustainable and thriving community.
The first new homes are expected to be built by 2028, with construction likely to continue steadily delivering more homes for another six to eight years.
The Department publicly exhibited the draft Rezoning Proposal and supporting documentation from 12 December 2024 to 31 January 2025. Feedback received during exhibition helped inform its finalisation.
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.
