Potts Point Holiday Inn part of new State Significant Developments revealed by the NSW Gov
The NSW Government is steadily releasing new projects that are being declared as State Significant Development following recommendations from the Housing Delivery Authority (HDA).
There are a mix of regional and Sydney Metro projects which are being released every few weeks.
The early April update was for 20 projects.
The most notable was for the redevelopment of 203-225 Victoria Street, Potts Point, home of the Potts Point Holiday Inn since 1985 and next door to the iconic Kings Cross Hotel.
The brief update from the Ministerial Order was for "the purpose of mixed-use development comprising commercial premises, tourist and visitor accommodation and residential accommodation with provision of affordable housing."
The Holiday Inn has been owned by property funds management giant Salter Brothers since 2023 when they acquired the hotel portfolio from IHG Hotels.
It was reported at the end of last year that Salter could list its $2 billion hotel portfolio on the ASX.
It would be another mixed-use development in the entry to Potts Point following the completion of Omnia, the luxury 20-level glass tower with 135 apartments, in 2018.
The most recent update from the NSW Government was just a few days ago when they added another 14 projects to the list, nine in metropolitan Sydney and five in regional NSW. If lodged and approved, the projects could create more than 4,200 homes across New South Wales.
The recent tranche of projects includes a 63-unit development at 307-315 Parramatta Road in Leichhardt.
Three projects are in Chatswood; 12-14 Malvern Avenue, 5-7 Havilah St, Chatswood, and 815 Pacific Highway, Chatswood.
The new Castle Hill apartment development by UAE-based property giant Arada has been fast-tracked. Arada has signalled a $2.5 billion commitment to Sydney housing, with ambitions to add 2,500 dwellings across the region.
Their Castle Hill project, across Carrington Road, Middleton Avenue, Fishburn Crescent and Sexton Avenue, will have around 350 apartments designed by Woods Bagot.
Among new projects from Ryde to Wollongong is Woolworths' Neutral Bay mixed-use development at 1-7 Rangers Road & 50 Yeo Street.
Despite North Sydney Council's objections, the Sydney North Regional Planning Panel granted gateway approval, noting the proposal’s alignment with strategic housing goals.
The mixed-use development, anchored by a full-line Woolworths, will have 90 one, two and three-bedroom apartments, ground-level retail, and 2,420 sqm of office space.
To date, 78 proposals amounting to more than 32,100 potential homes have been declared state significant. Since the formation of the HDA, 15 projects have had Secretary Environmental Assessment Requirements issued. Recommendations from the HDA are published as required under the Environmental Planning and Assessment Act 1979 before the SSD declaration.
This is all part of the Minns Government’s plan to build a better NSW with more homes and services, so young people, families and key local workers have somewhere to live and in the communities they choose.
