22 January 2024
By Hannah Wilcox
A 16-storey mixed-use tower is set to be built at Five Ways Junction in Crows Nest.
Deicorp has secured gazettal approval for the project from the Sydney North Planning Panel.
Located at the corner of Pacific Highway, Alexander Street and Falcon Street, the building will house 129 apartments across the 16 levels.
The first three levels of the project will be made up of 8000 square metres of commercial space with seven basement levels of 247 parking spaces.
Designed by Surry Hills based design firm Turner Studio, the building will “deliver a much-needed revitalisation and activation of the precinct.”
It is situated only minutes from the highly-anticipated Metro station.
The developer withdrew its first proposal for the project back in 2020 before having its second application, which saw a density adjustment from 36 levels to 19, rejected.
Approval comes following official rezoning of the site at the end of last year including an increased height limit from 16 metres to 62.5 metres.
Deicorp said in December that “foreshadowed changes to key transport sites might change the planning framework for this project”, the Urban Developer reported.
Success with the Five Ways Junction plans follows recent approval for other Deicorp projects in Parramatta and Melrose Park; with a further 1200 apartments to be built, adding to the 3200 already under construction.
Deicorp chairman Fouad Deiri said the company was “pulling out all stops” to deliver new housing.