Coronation reveal plans for $1.5 billion Erskineville transformation
Sydney property developer Coronation Property has unveiled plans for the first stages of its $1.5 billion inner-city urban transformation project that will convert a 50,000 sqm industrial site in Erskineville into a new lifestyle destination for Sydney.
Coronation acquired the site at 57 Ashmore Street, at the crossroads of 165-175 Mitchell Street, for $315 million in June 2022 from developer Greenland Golden Horse.
They'll be bringing a much needed 1,000 new homes to the Sydney market, a mix of terraces, apartments, and build-to-rent dwellings, all designed to cater to the needs of the discerning urban dwellers living in and around Erskineville.
Joe Nahas, Managing Director at Coronation Property, said the team are proud to be joining the neighbourhood with this significant redevelopment of the largest remaining unencumbered parcel of land in the City of Sydney.
"Our $1.5 billion development will be an incredible addition to Erskineville’s urban landscape – acknowledging the character of the suburb while delivering a new standard of living to the area," Nahas said.
“The site is just over 4km from Sydney’s CBD and situated close to major education, health, and transport hubs yet has been sitting inactive for several years.
"Our grand vision will reinvigorate the site with our ongoing commitment to deliver world-class design, and innovative placemaking to inner-Sydney."
Part of the project will be a new 7,500 sqm public park, the future McPherson Park, will sit in the centre of the masterplan– with green space, unique public art installations, and tree canopies providing residents and the surrounding community open space in which to connect, relax, or exercise.
Access to the site will be enhanced with a new 20-metre-wide, pedestrian-friendly boulevard weaving through its heart – wider than Pitt Street Mall, the shared pathway will provide convenient foot and cycling access to 5,000sqm of specially curated retail, and an activated park-facing dining precinct.
Earlier this year, Coronation undertook a City of Sydney Design Excellence competition for Residential Building E, with Surry Hills-based architects, Silvester Fuller, delivering the winning scheme.
The Selection Panel’s decision was unanimous.
“The proposed scale and form are highly responsive to the surrounding existing and future development, and presents a strong relationship between the park, the street and the through-site link," the Panel said.
“The internal street connects well with the through-site link, enhancing the pedestrian experience. The entries to the building were highly legible and have a powerful address to the public domain areas, particularly the northern and southern street frontages,” continued the judges."
Penny Fuller, Silvester Fuller Director, said the park edge location has informed a close relationship between building and landscape.
“Our scheme balances the playful and the pragmatic, the whimsical and the wise, wrapped in an overall concept focused on creating uplifting spaces to be in and around – a building to make you smile," Fuller said.
The City of Sydney Council granted development approval in March 2023 for six luxury, three-storey townhouses for Residential Building D for the winning scheme by emerging practice, and Redfern locals, Andrew Burns Architecture.
Principal Andrew Burns revealed that the practice was founded on designing terrace homes in and around Erskineville.
“In a way, the project with Coronation Property is a return to our roots. We have endeavoured to introduce the crafted quality of bespoke architectural houses into the design of the terraces.”
“Our vision was inspired by the neighbouring Victorian-era terraces found in Erskineville and across inner-city Sydney. We drew on the idea of the ‘grand terrace’ that traditionally comprises a group or row of adjacent terraces forming a larger structure while retaining an individual identity for each dwelling,” continued Mr Burns.
Coronation’s plan for vital infrastructure upgrades across the site are well underway to yield long- term benefits for residents, visitors, and the surrounding community.
David Cremona, Coronation’s Group General Manager, said the primary focus is to make a positive contribution to the community.
"To achieve this, we are working closely with the City of Sydney Council and expert consultants to upgrade critical infrastructure.”
“Importantly, our delivery team has devised precise strategies to ensure that these infrastructure upgrades, and the construction of new structures is carried out smoothly and efficiently with the least possible inconvenience to our site neighbours."
Construction is expected to commence in the third quarter of 2023. The 150, Silvester Fuller-designed apartments are scheduled to launch in late 2023 with one-bedrooms starting at $800,000.
