Deicorp lodge State Significant Development application for 1,200 apartments in Five Dock
There's no slowing down Fouad Deiri and Deicorp.
The Sydney developer, who will complete over 2,000 new apartments by the end of 2024, is adding a further 1,200 apartments to its ever-growing pipeline.
They're preparing plans in Five Dock where they've submitted the first stage of a State Significant Development with the NSW Government for six towers up to 30 levels, with 1,185 apartments, of which 15 per cent will be affordable. There will also be some apartments designed specifically for build to rent.
The apartments will sit above a six to eight-level podium that will comprise commercial and retail spaces, including a full-line supermarket and an indoor recreation facility.
A competitive design process has already been held for the project. It invited four architectural firms to prepare a mixed-use development proposal, which was considered by a Jury of five members who unanimously decided that the Turner scheme had the best potential to achieve design excellence.
The masterplan also includes a basement parking with a tunnel connecting two parking lots beneath a proposed council road, and extensive public benefits, such as 2,290 sqm of public open space, new public roads, and pedestrian pathways.
The three-hectare site, incorporating 53-75 Queens Road and 129-153 Parramatta Road, a site which Deicorp picked up last year for a reported $260 million, is strategically located within 400 metres of regular bus services on Parramatta Road.
The site was part of the broader revitalisation of the Parramatta Road Corridor as outlined in the NSW Government's 2016 strategy which aims to enhance the 20-kilometre corridor with better amenities, improved transport, walkable neighbourhoods, and diverse housing options.
The development is part of a larger master plan by the City of Canada Bay Council, which envisions 2,500 homes by 2050.
The Five Dock project, dubbed Kings Bay Village, is also in proximity to the planned Burwood North and Five Dock metro stations, aligning with the Minns government's support for development near new transport hubs.
Deicorp's active role in addressing Sydney's housing challenges is underscored by its recent acquisitions and large-scale projects. It currently has 4,400 new apartments currently under construction across 11 projects in Greater Sydney.
Its most recent development application came in Zetland where the vertically integrated builder developer is planning nine new buildings that will form a new precinct they're calling Joynton Square.
