Deicorp secure gazettal approval for Falcon & Alexander, Crows Nest apartment development
It's been third time lucky for developer Deicorp, who has secured gazettal approval for its 16-storey mixed-use project at the Five Ways Junction in Crows Nest.
They withdrew their first proposal for the site, which borders Pacific Highway, Alexander Street and Falcon Street, back in 2020, and then had their second application, which was a drop in density from 36 levels to 19 levels, rejected.
The gazettal approval is for 16 levels with 129 apartments designed by Turner Studio. The first three levels of the project will be a podium with 8,000 sqm of commercial space. The seven basement levels will home 247 car spaces.
The project application approval follows the official rezoning of the site in December, ushering in a new era with favourable planning controls. Notable changes include an increased height limit from 16 metres to 62.5 metres, facilitating the creation of a 16-storey mixed-use structure.
Situated just minutes from the soon-to-be-opened Crows Nest Metro Station, the strategic location ensures convenient and frequent access to North Sydney and the CBD.
The island site is part of the NSW government's ambitious place-led renewal policy for North Sydney.
Comprising 19 allotments, the successful amalgamation of lots enables a holistic redevelopment with a unified public domain.
Upon completion, the project will extend the village's public domain, forge better connections to key bus transit stops, create valuable employment opportunities, and provide much-needed additional housing.
The Five Ways approval joins Deicorp's recent development approval success in Parramatta and Melrose Park which brings them 1,200 apartments in their immediate pipeline, adding to their 3,200 units already under construction.
