15 July 2025
A proposed modification to the Five Ways redevelopment in Crows Nest would significantly reconfigure the balance of residential, commercial and retail space—removing all offices, reducing shops, and adding a 100-room hotel and 24 more apartments.
The revised State Significant Development application, now on exhibition until July 28, was lodged with the NSW Department of Planning, Housing and Infrastructure for the site at 405 Pacific Highway, 5 Falcon Street and 8 Alexander Street. The original project was approved by the Independent Planning Commission on December 23, 2024.
Key elements of the proposed changes include:
- Replacement of previously approved retail space on the mezzanine and first podium levels with a 100-room hotel.
- Removal of 2,500sqm of commercial office space, with Level 2 instead proposed to accommodate new residential units and communal open space.
- An increase in apartment numbers from 188 to 212, including the retention of 48 affordable housing dwellings—representing 15% of the overall floor space.
- A significant reduction in retail gross floor area from 5,502sqm to 1,915sqm.
- Addition of 3,736sqm of hotel floorspace.
- A net increase in residential GFA from 16,117sqm to 18,468sqm, with the total GFA unchanged at 24,119sqm.
Developer Deicorp has argued that current market conditions no longer support the original mixed-use configuration, citing a commercial vacancy rate of 26% across St Leonards and Crows Nest—among the highest in the country. The vacancy level, exacerbated by the shift to hybrid working, is supported by data from the Property Council of Australia.
In response, the department has agreed to reduce the minimum non-residential floor space ratio for the site to 1:1 to reduce the risk of long-term vacancies.
The proposal also includes minor alterations to car parking, basement servicing, building materials and wind mitigation. Parking will now comprise 230 spaces across five basement levels—up from 220 spaces but down from the previously approved seven levels.
Although the height at the top of the lift overrun and fire stairs will increase marginally to 80.34 metres, the overall maximum building height will decrease by 0.4 metres.
The site’s updated address details reflect revised lot consolidation and use: 405 Pacific Highway will house the hotel, 5 Falcon Street will host retail, and 8 Alexander Street will be used for residential.
The revised application will be subject to community feedback before final assessment.
Watch our video on 4 State Significant Projects that could change the North Shore’s skyline forever here: https://youtu.be/6Vx3dD0LzwQ