tgmaster, Author at Thirdi Group - Page 7 of 25

Third.i transforming Crows Nest with future-focused Hume Place

Local Crows Nest developer Third.i Group and Phoenix Property Investors are proud to present their future-focused masterplanned precinct in Crows Nest, Hume Place.

Working with one of the world’s leading architectural practices, Woods Bagot, and renowned WSP Architecture, the team sets to transform Crows Nest into Sydney’s most connected and progressive village with the precinct, designed with a community-centric approach.

Set above the Crows Nest Metro Station, Hume Place will comprise two stages. Stage 1 will bring stunning residences, retail, dining, and co-working spaces to the precinct. Stage 2 is set to provide an enhanced focus on public spaces, with a proposed 15% of that space dedicated to key and essential worker affordable housing.

In addition to a vibrant precinct on the doorstep, residents will have reduced travel times of seven minutes to the Sydney CBD and just four minutes to Chatswood with the new Metro Station located within the community.

“Having better connected communities means people can get onto a train and get where they’re going more easily, without having to think about where to park their car, or how much they will have to pay to park it,” said Florian Caillon, Head of Acquisitions at Third.i.

Co-founder of Third.i Group Luke Berry is excited to bring the masterplanned community to Crows Nest – a legacy for the Lower North Shore.

“We’ve always believed that when you combine innovation and brilliance together, you get the perfect outcome for a project and the people that exist in it,” said Luke.

Hume Place is a result of close consultation with the community of Crows Nest – the collaboration resulting in a place that offers something for everyone.

The team will unveil more exciting details about the development in the upcoming weeks.

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Housing avilability issues comes to the fore.

With the NSW state government directly indicating that it wants more high rise residential apartments in the North Sydney LGA, two developers have responded with plans for major apartment initiatives. But there is pushback on one of them amid concerns that good planning practice is being bypassed.

The developer of the site over the coming Crows Nest Metro station, Third.i, said it will dedicate about 15 percent of its proposed residential tower at Hume Street to affordable housing for nearby hospital workers.

Third.i and its partner PPI said they are joining with one of Australia’s largest community housing providers, Evolve Housing, to designate 15% of the mixed-used development to nurses, midwives, health professional and services staff working at nearby Royal North Shore Hospital and other local health facilities in perpetuity. “This will allow health workers, who are unable to find affordable rental apartments within the Local Government Area, to live close to their workplaces,” they said.

A survey conducted by the developers found many St Leonards health workers travelled 30 to 50km to work, with the cost of local studio apartments equivalent to 58% of their pay.

Third.i and PPI have already been granted Stage 1 approval for the Metro Precinct Site A and B development, but are proposing to amend the concept for mixed-use, which includes a mix of affordable housing, private residential, retail, and commercial floor space. Although the two did not identify the number of new apartments planned, they did place a value of $130 million on the initiative.

Earlier this year, Third.i indicated full priced units in the development would cost around $800,000 for a one-bedroom and $1.8 million for a two-bedroom unit.

Meanwhile, MLC Building owner Investa has released plans to re-purpose the empty office block as a build-to-rent office tower. Having been thwarted by the state government and the courts to demolish the 1957 building, Investa now wants to refit the building to support 340 apartments and 2500sq m of retail space.

However, the plan has attracted instant opposition from North Sydney Council.

Mayor Zoe Baker told the Sydney Morning Herald that “In one fell swoop, something like this undermines that careful planning and conservatorship of that core for commercial purposes. We’ll be making a very strong submission that this not proceed.” She added that it will be the “death knell” for the North Sydney CBD.

According to Council, “the existing E2 – Commercial Core zone, expressly prohibits residential development including serviced apartments. This prohibition has been in place for many years.”

The North Sydney Local Strategic Planning Statement says “The North Sydney CBD will retain its commercial core zoning to ensure that employment capacity is provided for and residential development is restricted to its peripheral locations. This will ensure that North Sydney continues to deliver a place that is reflective of the highest order centre assigned under the regional and district plans.”

It’s worth noting that there is some residential accommodation in the North Sydney CBD already.

There is an apartment block at 93 Pacific Highway, just one block away from MLC, as well as substantial residential property north of Berry St, again just one block away.

TINK’S FORUM PLAN: Meanwhile, independent federal MP for North Sydney Kylea Tink has made the call out to local residents for their ideas on how to solve the housing issue. “What’s the one big idea we need to push Canberra to consider? What’s the idea you think will make the most impact but which politicians seem unwilling to consider?” she asked, calling for written submissions by this weekend.

Tink is also engaging in what she calls deliberative democracy to help foster discussions about solutions, via a North Sydney Community Housing Forum. “For this event, a group of around 30-40 residents will convene to spend a day together to consider potential solutions to this difficult policy problem. Participants are asked to find common ground around one idea, showing their reasoning and what questions need to be answered to know if it is viable,” Tink said.   “Participants will be selected from a random sample of voters in the North Sydney electorate,” and weighted to be representative.  “They will be representative of a cross-section of the electorate’s demographics and geography.”

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Thirdi Reveals Health Worker Plan for Crows Nest Towers

A high-profile developer wants to amend its over-station towers plan on Sydney’s North Shore to create more than 100 homes for frontline health workers.

Developer Thirdi and joint-venture partner Phoenix Property Investors had been granted Stage 1 approval for the Metro Precinct (Site A and B) development at Crows Nest, to be known as Hume Place.

The pair are now partnering with community housing providers Evolve Housing and plan to designate 15 per cent—more than 100 apartments—of the mixed-used development as affordable housing for nurses, midwives, health professional and services staff working at the nearby Royal North Shore Hospital and other nearby health facilities in perpetuity.

The homes for healthcare workers have been valued at $130 million.

A spokesperson said an amendment to the two-tower plan was being sought “due to a decreased demand for office space, the urgent need for additional residential density in the LGA, and in line with the NSW government’s commitment to increasing the low supply of affordable housing”.

They said Thirdi and PPI were proposing to amend the concept state significant development [SSD] for Site A for mixed-use, which includes a mix of affordable housing, private residential, retail and commercial floor space.

In February, the joint venture acquired the site via private treatywith Sydney Metro and the NSW government for an undisclosed figure but the end value of the projects is expected to be $1 billion. 

A study commissioned by Thirdi and PPI found that health workers and services staff working in the suburb were having to travel 30-50km to get to work.

Workers from Royal North Shore Hospital living alone are paying up to 58 per cent of their salary for a studio in the area.

If approved by all stakeholders, Thirdi and PPI will deliver a turnkey-ready asset to Evolve, who will then work with the state’s two major health unions, the NSW Nurses and Midwives Association and the Health Services Union, to offer their members a range of apartments and associated amenities, including a wellness centre.

Thirdi director Robert Huxley said Hume Place would not only address the growing residential needs of the community but create economic activity for local businesses.

Thirdi was founded more than two decades ago by Huxley, Ron Dadd and Luke Berry. It has a portfolio of developments in Australia and has explanded overseas with projects under way in the UK.

Huxley said the “in kind and in perpetuity” agreement with Evolve was “a unique offering” in the property industry and provided a foundation for the creation of up to 500 more affordable homes in the Sydney metropolitan area.

“Should our amendment concept proposal be approved, we’ll hand over title of the affordable tower to Evolve, who can use that unencumbered asset to finance a new pipeline of affordable housing right across their sites in NSW, so there will be a significant flow-on effect from this project in terms of addressing to the crisis in supply that the market is experiencing,” he said.

Health Services Union secretary Gerard Hayes said Australia’s housing crisis was becoming a health crisis.

“Essential health workers are already making the tough decision to leave the sector in search of work closer to home,” he said.

“A hospital cleaner, a physiotherapist, a wardsperson—these workers shouldn’t have to travel for hours each day, coming to work already exhausted. We need solutions that mean these workers can afford to live in the communities they serve.”

The proposed affordable rental apartments will also help with recruiting staff to hospitals and other health facilities—there are more than 114 job vacancies at RNS alone.

“With the crippling cost-of-living pressures, the reality is that most healthcare workers cannot find, let alone afford, to live near RNS, The Mater or other health facilities on the Lower North Shore,” Evolve chief executive Lyall Gorman said.

“The fact is the demand for affordable housing far out-strips the current supply on to the market.”

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Thirdi Reveals Health Worker Plan for Crows Nest Towers

A high-profile developer wants to amend its over-station towers plan on Sydney’s North Shore to create more than 100 homes for frontline health workers.

Developer Thirdi and joint-venture partner Phoenix Property Investors had been granted Stage 1 approval for the Metro Precinct (Site A and B) development at Crows Nest, to be known as Hume Place.

The pair are now partnering with community housing providers Evolve Housing and plan to designate 15 per cent—more than 100 apartments—of the mixed-used development as affordable housing for nurses, midwives, health professional and services staff working at the nearby Royal North Shore Hospital and other nearby health facilities in perpetuity.

The homes for healthcare workers have been valued at $130 million.

A spokesperson said an amendment to the two-tower plan was being sought “due to a decreased demand for office space, the urgent need for additional residential density in the LGA, and in line with the NSW government’s commitment to increasing the low supply of affordable housing”.

They said Thirdi and PPI were proposing to amend the concept state significant development [SSD] for Site A for mixed-use, which includes a mix of affordable housing, private residential, retail and commercial floor space.

In February, the joint venture acquired the site via private treatywith Sydney Metro and the NSW government for an undisclosed figure but the end value of the projects is expected to be $1 billion. 

A study commissioned by Thirdi and PPI found that health workers and services staff working in the suburb were having to travel 30-50km to get to work.

Workers from Royal North Shore Hospital living alone are paying up to 58 per cent of their salary for a studio in the area.

If approved by all stakeholders, Thirdi and PPI will deliver a turnkey-ready asset to Evolve, who will then work with the state’s two major health unions, the NSW Nurses and Midwives Association and the Health Services Union, to offer their members a range of apartments and associated amenities, including a wellness centre.

Thirdi director Robert Huxley said Hume Place would not only address the growing residential needs of the community but create economic activity for local businesses.

Thirdi was founded more than two decades ago by Huxley, Ron Dadd and Luke Berry. It has a portfolio of developments in Australia and has explanded overseas with projects under way in the UK.

Huxley said the “in kind and in perpetuity” agreement with Evolve was “a unique offering” in the property industry and provided a foundation for the creation of up to 500 more affordable homes in the Sydney metropolitan area.

“Should our amendment concept proposal be approved, we’ll hand over title of the affordable tower to Evolve, who can use that unencumbered asset to finance a new pipeline of affordable housing right across their sites in NSW, so there will be a significant flow-on effect from this project in terms of addressing to the crisis in supply that the market is experiencing,” he said.

Health Services Union secretary Gerard Hayes said Australia’s housing crisis was becoming a health crisis.

“Essential health workers are already making the tough decision to leave the sector in search of work closer to home,” he said.

“A hospital cleaner, a physiotherapist, a wardsperson—these workers shouldn’t have to travel for hours each day, coming to work already exhausted. We need solutions that mean these workers can afford to live in the communities they serve.”

The proposed affordable rental apartments will also help with recruiting staff to hospitals and other health facilities—there are more than 114 job vacancies at RNS alone.

“With the crippling cost-of-living pressures, the reality is that most healthcare workers cannot find, let alone afford, to live near RNS, The Mater or other health facilities on the Lower North Shore,” Evolve chief executive Lyall Gorman said.

“The fact is the demand for affordable housing far out-strips the current supply on to the market.”

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Third.i project at Crows Nest to allocate $130m in affordable housing for health workers

Sydney property developer Third.i has teamed up with Hong Kong-based Phoenix Property Investors to develop a multibillion-dollar transport-oriented mixed-use project at Crows Nest, with plans to allocate a significant proportion of apartments to low-cost housing for health workers including those at the nearby Royal North Shore Hospital.

The Hume Place development, proposed to rise above the planned Crows Nest Metro station, will comprise two towers with one previously planned for commercial and retail tenancies and the second for apartments with ground-floor retail.

However, due to softening demand for office space and through a partnership with community housing provider Evolve Housing, the developers have moved to convert the first-stage commercial tower into a mixed-use residential project that will earmark 15 per cent of apartments in perpetuity for nurses, midwives, health professional and services staff working at the hospital.

The move, described by the developers as an industry first, has been welcomed by health employee groups after a survey commissioned by the partners revealed that local health workers and services staff were forced to travel 30 to 50km to work. The survey also found that Royal North Shore Hospital workers living alone are paying up to 58 per cent of their pay for a studio apartment in the local area.

While the end value of Hume Place is not yet known, the project is planned to deliver 400 apartments across both stages with more than 130 of them, worth about $130 million, set aside for health workers in perpetuity.

The project has received the backing of the Health Services Union and the NSW Nurses and Midwives’ Association who have voiced their concerns about the lack of inner-city housing for essential workers in the health industry.

“We have a housing crisis that is becoming a health crisis,” says Health Services Union secretary Gerard Hayes.

“Essential health workers are already making the tough decision to leave the sector in search of work closer to home. A hospital cleaner, a physiotherapist, a wardsperson, these workers shouldn’t have to travel for hours each day, coming to work already exhausted.

“We need solutions that mean these workers can afford to live in the communities they serve.”

NSW Nurses and Midwives’ Association general secretary Shaye Candish has welcomed the Third.i and Evolve partnership that she hopes will alleviate the stress that lack of affordable housing is causing many healthcare workers in the area.

Candish says a recent survey showed that a lack of affordable housing was a key concern for 76 of the association’s members and that over half indicated they were insecure in their current accommodation or didn’t have a steady place to live.

“Proximity to work is particularly relevant because of nurses and midwives’ work patterns, including shift work,” she says.

Third.i director and co-founder Robert Huxley says Hume Place is aiming to help address a ‘chronic shortage’ of quality, affordable housing on Sydney’s lower north shore.

“We want to give frontline healthcare workers, like nurses, midwives, paramedics, and health professional and services staff, the chance to finally find quality, affordable housing options, close to Royal North Shore Hospital, The Mater Hospital and other local health facilities,” says Huxley.

“The strategic location of the development, right above the Crows Nest Metro, will allow health care workers to easily access Royal North Shore Hospital, RPA, Sydney and St Vincent’s Hospitals, within just a few minutes.

“Our proposed amended design aligns with the Minns Government’s drive to get more housing in connected, urban areas around stations and transport hubs, allowing key workers to live close to their work.”

Hume Place is the fifth project that Third.i has undertaken in partnership with Phoenix Property Investors with a key focus on Sydney’s north shore. The partners are currently close to completing their latest development, Balfour Place, a luxury mixed-used project at Lindfield.

The revised Hume Place project is still subject to state government approval but Huxley says the ‘in kind and in perpetuity’ agreement with Evolve is a new step for the property industry that could unlock up to 500 additional affordable residences in the Sydney metropolitan area.

“Should our amendment concept proposal be approved, we’ll hand-over title of the affordable tower to Evolve, who can use that unencumbered asset to finance a new pipeline of affordable housing right across their sites in NSW, so there will be a significant flow-on effect from this project in terms of addressing to the crisis in supply that the market is experiencing,” Huxley says.

The proposed development will be officially launched to the market on 15 October.

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$130 million of new affordable housing proposed for key & essential workers in Sydney

In a housing crisis that’s becoming a health crisis, Third.i. & PPI are proposing new affordable housing for Key & essential workers in Crows Nest.

In an industry first, Australian property developer Third.i and joint venture partner, Phoenix Property Investors (PPI) are planning to provide frontline Sydney healthcare workers with a range of new affordable housing valued at over $130 million, as part of an amended plan for ‘Hume Place’ development above the Crows Nest Metro.

Partnering with one of Australia’s largest community housing providers, Evolve Housing, they are proposing to designate 15 percent of the mixed-used development to nurses, midwives, health professionals and services staff working at nearby Royal North Shore (RNS) Hospital and other local health facilities – in perpetuity.

This will allow health workers, who are unable to find affordable rental apartments within the Local Government Area, to live close to their workplaces.

A demographic study 1 commissioned by Third.i and PPI, show that local health workers and services staff are being forced to travel between 30 to 50 kilometres to get to work every day or night. Workers from Royal North Shore Hospital living alone are paying up to 58 percent of their salary for a studio in the local area.

Health Services Union Secretary, Gerard Hayes, said: “We have a housing crisis that is becoming a health crisis. Essential health workers are already making the tough decision to leave the sector in search of work closer to home.”

“A hospital cleaner, a physiotherapist, a wards person, these workers shouldn’t have to travel for hours each day, coming to work already exhausted. We need solutions that mean these workers can afford to live in the communities they serve,” Mr Hayes said.

NSW Nurses and Midwives’ Association General Secretary, Shaye Candish, welcomed the Third.i and Evolve partnership, pointing to a new member survey, which showed the lack of affordable housing was causing stress and anxiety for many healthcare workers.

“Many nurses and midwives in NSW struggle to secure affordable housing. 76 percent of respondents to our member survey said a lack of affordable housing was a problem, and over half indicated they were insecure in their current accommodation or didn’t have a steady place to live.”

“Proximity to work is particularly relevant because of nurses and midwives’ work patterns, including shift work. 90 percent want to live near their workplace and access to affordable housing influences their employment decisions. 69 percent of respondents said they were experiencing rental stress,” Ms Candish said.

1 GYDE demographic study, 2023

The proposed new stream of affordable rental apartments in the area will assist in retaining and recruiting staff to local hospitals and other health facilities, which is currently an issue faced by local health facilities with over 114 job vacancies at RNS alone.

“With the crippling cost-of-living pressures, the harsh reality is that the overwhelming majority of healthcare workers simply cannot find, let alone afford, to live near RNS, The Mater or other health facilities on the lower north shore.

The fact is, the demand for affordable housing far outstrips the current supply on to the market,” Evolve CEO, Lyall Gorman, said.

“That’s why we’re delighted that Evolve’s partnership with Third.i will potentially deliver a pipeline of new affordable housing for healthcare workers, who otherwise would be travelling between one to two hours to get to work every day.”

Director and Co-Founder, Robert Huxley, said Third.i was excited that the ‘Hume Place’ development could help address the chronic shortage of quality, affordable housing on Sydney’s lower north shore.

“We want to give frontline healthcare workers, like nurses, midwives, paramedics, and health professional and services staff, the chance to finally find quality, affordable housing options, close to Royal North Shore Hospital,

The Mater Hospital and other local health facilities,” Mr Huxley said.

“The strategic location of the development, right above the Crows Nest Metro, will allow health care workers to easily access Royal North Shore Hospital, RPA, Sydney and St Vincent’s Hospitals, within just a few minutes.

“Our proposed amended design aligns with the Minns Government’s drive to get more housing in connected, urban areas around stations and transport hubs, allowing key workers to live close to their work.”

Third.i and PPI have already been granted Stage 1 approval for the Metro Precinct (Site A and B) development, but due to a decreased demand for office space, the urgent need for additional residential density in the LGA and in line with the Minns Government’s commitment to increasing the low supply of affordable housing, Third.i and PPI are proposing to amend the concept SSD for Site A for mixed-use, which includes a mix of affordable housing, private residential, retail, and commercial floor space.

If approved by all stakeholders, Third.i and PPI will deliver a turnkey-ready asset to Evolve, who will then work with the State’s two major health unions, the NSW Nurses and Midwives Association (NSW NMA) and the Health Services Union (HSU), to offer their members a range of apartments and associated amenities, including a wellness centre.

Mr Huxley said Hume Place will not only address the growing residential needs of the community, but create much-needed economic activity for local businesses.

“Should the project be approved, it will offer frontline workers a new benchmark of affordable and convenient inner city living; close to transport hubs, amenities and major hospitals in the Northern Sydney Local Health District. Frontline health workers, cleaning and catering staff working at local hospitals will all benefit from the affordable housing options, greatly reduced travel times and improved work-life balance.”

“These new residents will shop and spend locally which will be an added bonus for the local business community.”

Mr Huxley, said the ‘in kind and in perpetuity’ agreement with Evolve is a unique offering in the property industry and provides a foundation for the creation of up to 500 additional affordable dwellings in the Sydney Metropolitan area.

“Should our amendment concept proposal be approved, we’ll hand over title of the affordable tower to Evolve, who can use that unencumbered asset to finance a new pipeline of affordable housing right across their sites in NSW, so there will be a significant flow-on effect from this Project in terms of addressing to the crisis in supply that the market is experiencing.”

The proposed precinct is set to launch to market on October 15, 2023 at the local community event, Crows Nest Fest . Third.i has partnered with over 40 local businesses to offer attendees the chance to win one of three $10,000 voucher packs, to be used throughout Crows Nest.

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Boutique the right fit for new location

A Townsville fashion retailer fitting mums and daughters is finding a new customer base after upgrading to a new store which wouldn’t look out of place on Brisbane’s James St.

After studying fashion in Toronto, Canada, Candace Gardner settled in Townsville and opened Hazel Mai in May 2015, offering a selection of wardrobe staples coupled with on-trend pieces to cater to the fashion-loving community.

Since moving into Precinct 21 on Stokes St, she said giving the flick to Flinders St’s “unmaintained buildings” and “unmotivated landlords” has been a big boon for her business.

“The place in which we provide that service has really levelled up and feels high end”, she said. “I think our customers enjoy having a local boutique that looks like it belongs somewhere on James St and that has been reflected in our trade.”

Calling the new era, “Hazel Mai 2.0”, Ms Gardner said her loyal customers of 7 years have followed her down the road. “We are finding lots of new customers that are just discovering us for the first time”.

Focused on 25-44 yearold women, Ms Gardner said she loved when mothers and daughters came in together.

Luke Berry, Third.i. Cofounder, which runs Precinct 21, said securing Hazel Mai as a tenant was a great outcome.

Updated designs for Crows Nest over-station development

The proponents of a three-tower over-station development in Sydney’s Crows Nest have announced plans to create affordable housing for key and essential healthcare workers in the area.

The Woods Bagot-designed proposal, to be located on Pacific Highway above a future Crows Nest Metro station, was first approved by the then-planning minister Rob Stokes in 2021. The original concept proposal called for a 27-storey residential tower with 318 apartments on the largest site (A) between Oxley Street to the north-west and Hume Street to the south-east.

In the approved concept, the tower at site A was changed from residential to commercial and its height reduced to 21 storeys.

Now, the proponents want to again amend the proposal to a mixed-use tower with 15 percent affordable housing for the healthcare and service staff of the nearby Royal North Shore Hospital, as well as private housing, retail and commercial spaces.

Developers Third I and Phoenix Property Investors are partnering with Evolve Housing to deliver affordable rental housing for local workers in the healthcare sector.

Their demographic research found that healthcare and service staff in the local area commute between 30 to 50 kilometres every day, while some workers at the Royal North Shore Hospital spend up to 58 percent of their salary to live in studio accommodation in the local area.

Evolve Housing will work with the New South Wales Nurses and Midwives Association and Health Services Union on allocation of affordable housing.

“Should the project be approved, it will offer frontline workers a new benchmark of affordable and convenient inner city living; close to transport hubs, amenities and major hospitals in the Northern Sydney Local Health District,” said Third I director and co-founder Robersons Huxley. “Frontline health workers, cleaning and catering staff working at local hospitals will all benefit from the affordable housing options, greatly-reduced travel times and improved work-life balance.”

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Sydney Developer Transforms Vacant Office to Affordable Housing for Health Workers

A Novel Approach to Housing Crisis

The chronic housing shortage in Sydney might find relief in a novel initiative put forth by a local developer. Capitalising on the post-COVID downturn in the demand for office spaces, the developer is planning to repurpose a vacant 21-storey office block in Crows Nest into affordable housing units.

The proposed conversion includes 300 private apartments and 100 units specifically allocated for health workers at a discounted rate. This innovative move comes in the wake of increased demand for affordable housing in Sydney, particularly for frontline workers who have been at the helm of the fight against the pandemic.

Tackling Housing Shortage and Office Space Surplus

The housing crisis in Sydney has been a pressing issue for some time, with property prices soaring and affordable housing options dwindling. At the same time, the post-COVID-19 landscape has seen a significant decline in demand for office spaces, a trend observed not just in Australia, but globally. The proposed initiative is an attempt to address both these issues simultaneously, a solution that could potentially serve as a blueprint for other cities grappling with similar challenges.

The project, however, is not without its challenges. Converting office structures into residential units is an arduous task, with several factors to consider including the age of office buildings, cost of conversion, and meeting residential building codes and standards. Furthermore, the project’s success hinges on creating vibrant and diverse neighbourhoods that attract residents and support local businesses.

Partnership with Evolve

The developer plans to hand over the affordable housing block to Evolve, a community provider. This partnership underscores the potential for such initiatives to create a ripple effect, with Evolve potentially developing further projects across Sydney. This aligns well with the goals of the Minns government, which encourages developers to contribute to solving the housing crisis.

Implications for the Future

While the project is still in the approval process, its potential implications are significant. If successful, it could pave the way for similar conversions, thereby providing a creative solution to the housing crisis and the surplus of office spaces. However, it is also of utmost importance that such conversions prioritize affordable housing units over luxury apartments to ensure maximum impact.

As the world continues to navigate the post-COVID landscape, initiatives such as this present a promising way forward. They highlight the potential for innovative solutions to emerge from crises, offering hope for a more equitable and sustainable future.

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How a downturn in demand for office space could help solve Sydney’s housing shortage

The post-COVID downturn in demand for office space could present a chance to help solve part of Sydney’s housing shortage.

One private developer is teaming up with a community housing provider in the hope of delivering much-needed affordable apartments for frontline health workers.

Royal North Shore is a major teaching hospital, with more than 100 positions vacant.

Brett Manwaring from community housing providers Evolve Housing says that “one of the key things they’re hearing is I can’t find affordable accommodation in the area”.

Staff at the hospital are instead forced to cop exhausting commutes.

Brad Ernst, an employee at the hospital, said: “I get the 7.19 train from Woy Woy to St Leonards.

Just up the road at Crows Nest there are plans for a 21-storey office block. Space that is no longer in high demand.

Now developer Third.i has gone back to the drawing board to see if one problem can solve the other.

“We’d like to amend the concept DA to be able to put affordable housing on the site,” the developer said.

Their tower is above the new Crows Nest station.

They said that while staying within its original footprint, the amended proposal would swap offices for 300 private apartments in the block.

It would also create another 100 units reserved for health workers to rent at a discount of at least 25 per cent off the market rate.

“You’re located above a metro station so you can access most of the major hospitals across Sydney in a matter of minutes,” the developer said.

The title for the affordable housing block would be signed over to community provider Evolve, with a potential ripple effect.

“We can probably own and develop a further 400 properties across Sydney as a result of this asset being gifted to us in perpetuity,” Manwaring said.

Third.i is hoping that will sweeten the deal for both the community and the planning minister to sign off on the change.

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