Mirvac has lodged plans for the first stage of its masterplanned community on the site of the former IBM complex at West Pennant Hills.
The concept plan and civil works development application lodged with The Hills Shire Council is for 252 apartments and 166 houses across the 25.87ha site at 55 Coonara Avenue.
It is one of many apartment complexes the developer has on the boil, and is anticipated to cost about $165 million. Civil works to prepare the site would cost about $30 million.
The developer won support for its residential project at West Pennant Hills, 20km north-west of the Sydney CBD, in 2017, and after soil investigations lodged plans for four apartment buildings up to six storeys on the site, with further development applications to be lodged for subsequent stages.
Mirvac acquired the site in 2016 for $74 million and was unable to re-lease the property when IBM vacated the property.
It then sought change of use from business park to residential development and won approval to create the $600-million-plus masterplanned community.
The planned development came under fire from residents and environmentalists over traffic increase concerns, and possible detrimental effects on neighbouring ecosystem among other concerns.
The lodgement of the concept plan development application outlines building parameters across the site, building envelopes and also dwelling yields, according to Mirvac.
The application also addressed the demolition of seven low-rise interconnected office buildings next to Cumberland State Forest.
▲ Mirvac plans to hand back about 10ha of remnant forest to be incorporated into the adjoining state forest.
Plans for the first stage of housing and the apartments precinct are being finalised, which will provide greater detail on the development of the site.
Initial plans for more than 1000 dwellings on the site were scaled back after Mirvac failed to win support for a bigger community footprint.
The site is 800m from the Cherrybrook Metro Station and 3km from the new Northconnex interchange.
Mirvac has committed to handing over about 10ha of remnant forest to the state government for the extension of the adjoining state forest.
“We understand the important role the remnant blue gum high forest and the Sydney turpentine ironbark forest has in providing valuable habitat for local native flora and fauna, in particular the powerful owl, and we are committed to its protection,” Mirvac said in a statement.
“As such, any proposed demolition and construction works will be carried out under specific controls designed to minimise any potential impacts.
“As part of the proposed redevelopment, approximately 10ha of forest area will be dedicated to the state government as public open space, to become an extension of the adjoining Cumberland State Forest.”
Mirvac acquired a major greenfield site in Sydney’s south-west growth corridor recently.
The move by Mirvac enables the developer to restock its landbank in Australia’s most expensive city where stock has been snapped up by the HomeBuilder program and lot prices have surged.
Article Source: www.theurbandeveloper.com
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