Timber! Lang Walker scraps Aspire Tower, Sydney's tallest apartment proposal at Parramatta
Oversupply concerns has prompted developer Lang Walker to ditch his proposed 70-storey apartment project at Parramatta.
He plans for it to become an 55 storey office tower.
"There's a lot of residential proposed and, with the banking sector tightening up in regards to residential apartments, quite a lot of those proposals won't get off the ground," he told The Australian.
"We wouldn't want our project to be among those," he added.
An earlier ambitious application for 90 storeys, lodged after consultation with the Civil Aviation Safety Authority, did not proceed (above and below).
In June 2015, the NSW state government approved Parramatta City Council’s request to raise height limits for the Parramatta Square urban renewal project, taking the Aspire tower a step closer to a height of 306 metres.
In 2014, a group of aviation authorities and organizations suggested it could impede take-off and landing corridors used by planes.
Architecture firm Bates Smart beat three other competitors to win the right to design the skyscraper, which was set to be the tallest residential building in NSW.
The proposed residential tower was to have an end value in excess of $500 million.
It was to be key to the $2 billion re-development of Parramatta Square which is are now well underway.
Walker Corporation was already planning two A-Grade neighbouring commercial towers, designed by architects Johnson Pilton Walker.
Once built, the newly proposed 243m-tower will be Sydney’s third tallest commercial building, behind Chifley Tower at 244m and Citigroup Centre at 243m in Sydney CBD.
