Deicorp approved for Falcon & Alexander, Crows Nest new apartment development
Deicorp’s latest Metro-connected project has been granted approval from the Independent Planning Commission (IPC), giving the burgeoning develop the green light to push on with 188 apartments in Crows Nest.
The 22-level building, which includes a three-storey podium with ground-floor retail and commercial space, will be built on the prominent Pacific Highway site known as The Five Ways.
The application for the project, known as Falcon & Alexander, was lodged in April 2024 and assessed by the NSW Department of Planning, receiving a recommendation for approval in November. However, as the local council objected, the matter was required to be determined by the IPC.
The IPC invited submissions from the community as part of its determination, with 20 submissions received, including nine objections and 11 in support.
The Five Ways project is located around 350 metres from the new Crows Nest Metro Station, and with an active ground floor retail precinct, it will help revitalise the southern edge of the Crows Nest town centre.
Turner Studio won the Design Excellence competition with their design being selected by the jury as the most desirable.
Deicorp’s founder Fouad Deiri said he was pleased with the outcome, and the work of the Department of Planning to support the application, despite opposition from North Sydney Council.
“We have been working for over five years to achieve approval on this site, including three separate planning proposals and a subsequent State Significant application,” Deiri said.
“The time it has taken to secure approval for this project highlights the difficulties the development industry faces in trying to build homes in Sydney.
“A community survey we undertook as part of the consultation process demonstrated a majority of residents in the area were either in favour of the project or neutral towards it.
“A significant majority of residents surveyed supported the substantial Affordable Housing within the project and the new retail precinct being provided.”
Findings by the research and engagement firm Notting Hill Advisory revealed a significant portion of households polled in four key development hubs across Sydney, including the North Sydney local government area (LGA), were favourable to new housing located close to public transport and delivered with good amenity outcomes.
In the North Sydney LGA, where the Crows Nest development is located, 64 per cent of the residents surveyed also agreed the provision of affordable housing would benefit the community. There are 48 affordable housing units in Falcon & Alexander.
The Five Ways approval adds to another recent significant project consent Deicorp received in December, with their Joynton Ave Zetland site being signed off by the Central Sydney Planning Committee. Joynton Ave includes 574 apartments across nine buildings and a contribution of $28 million for Affordable Housing.
Deicorp expects to start construction on over 3,000 apartments in 2025.
