Eight storey residential development Proposed for Neutral Bay site

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26 August 2026

A development application has been lodged for a new eight-storey residential flat building at 3-5 Yeo Street, Neutral Bay on the northern edge of Forsyth Park. 

The proposal involves the demolition of existing structures across the 1,434-square-metre site to make way for 28 units, including dedicated affordable housing. The project also features three basement levels providing 68 parking spaces.

The project is aiming to align with the NSW Government’s Low and Mid Rise Housing and in-fill Affordable Housing Policies. The subject site, which is not listed as a heritage item, currently houses a four-storey residential building at 3 Yeo Street and a two-storey dwelling at 5 Yeo Street. Bounded by Yeo, Premier, Montpelier, and Bent Streets, the location borders Forsyth Park. Environmental assessments indicate the area is unlikely to contain endangered or threatened species or ecological communities.

In justifying the project, the developer cited a lack of residential diversity and affordable housing options in a precinct identified by the state for significant growth. The proposal seeks to deliver a contemporary residential building that reflects current urban development standards and government housing initiatives.

The plan is in the exhibition phase of the State Significant project planning process.