The delivery of one of Sydney’s most significant urban renewal projects has taken a major step forward, with Metrics Credit Partners (Metrics) and leading developer Deicorp announcing a joint venture on the $1.8 billion Kings Bay Village development in Five Dock.

The State Significant Development, known as Kings Bay Village, will transform underutilised land into a vibrant new mixed-use precinct comprising 1,185 new homes — including 218 affordable dwellings for essential workers — along with 6,500 sqm of public open space, and 14,700 sqm of retail and commercial offerings.

Early works are due to commence in September following settlement of the three-hectare site at 129-154 Parramatta Road and will take approximately 40 months to complete.

Metrics has now partnered with Deicorp on 12 Sydney-based projects including in Castle Hill, Rouse Hill, Petersham and Rockdale.

<img alt="Deicorp" data-entity-type="file" data-entity-uuid="d5481a09-99cb-4198-8a7f-db39b894d962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-14%20at%208.12.57%E2%80%AFAM.png?VersionId=3Me5ebh8sYpLKxRche8wxqVaCQN6o5bf" />

Metrics CEO and Managing Partner Andrew Lockhart said the company is proud to support more housing and infrastructure in a key Sydney corridor.

“Metrics and Deicorp share a proven track record of delivering high-impact projects that align closely with State and Federal Government housing and infrastructure priorities. Kings Bay Village marks our most significant Sydney development to date, offering quality homes, essential infrastructure, and dynamic public spaces.”

Lockhart said the project reflects their ongoing commitment to creating value by supporting economic growth, job creation, and delivering excellent outcomes for their investors.

<img alt="Deicorp" data-entity-type="file" data-entity-uuid="b27a120a-ea99-461b-8cd1-26ce66a9958f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-14%20at%208.12.44%E2%80%AFAM.png?VersionId=ZY4oKse5kPML0hwdSgqeboxGcL4s4fRh" />

Deicorp Chairman Fouad Deiri OAM said the joint venture with Metrics reflected a shared commitment to delivering thoughtfully designed housing and infrastructure outcomes in high-demand locations.

“This partnership brings together two organisations with deep experience and a common vision — to deliver housing where it’s needed most, supported by infrastructure, public space and long-term value for the community.

“We are grateful to have Kings Bay Village endorsed as a State Significant Development and acknowledge the important planning reforms in New South Wales that have made this project possible,” he said.

<img alt="Deicorp" data-entity-type="file" data-entity-uuid="d288620c-f5fc-4ac0-b48e-1477680b5361" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-14%20at%208.12.40%E2%80%AFAM.png?VersionId=lJ12ju99v8eZ1d3cL1XSZLRWr1P0hen2" />

Positioned just minutes from the future Five Dock Metro Station, Kings Bay Village is the first major urban renewal project supporting the NSW Government and City of Canada Bay Council’s bold vision for the Parramatta Road Corridor and will contribute more than 23 per cent of the Council’s 2029 housing target of 5,000 new homes.

In addition, Deicorp is committing more than $80 million to fund upgrades to local infrastructure, including more than $10 million in public domain works, delivering new pedestrian laneways, an activated streetscape, and a 2,290 sqm landscaped park and civic plaza — designed to become the social heart of the community.

Deicorp Chairman Fouad Deiri OAM said the joint venture with Metrics reflected a shared commitment to delivering thoughtfully designed housing and infrastructure outcomes in high-demand locations

Joel Robinson

Deicorp teams up with Metrics for $1.88 billion Kings Bay Village, Five Dock masterplan

Prominent Bondi developer RnB Property Group is making its mark in Byron.

The developer, who is currently delivering boutique developments Mangata and Allara in Vaucluse, has filed for a boutique shoptop development on Byron Bay's dress circle Marvell Street.

The near $11 million plans, for an amalgamated site across 5 Marvell Lane and 8 Marvell Street, will see 10 three-bedroom apartments developed across a four-level building, above two ground floor retail spaces and basement parking, accessed from Marvell Lane.

<img alt="Marvell Ln, Byron Bay 2481 NSW" data-entity-type="file" data-entity-uuid="621b55e5-5b0a-40c0-984a-47d716814e1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Byron%20bay%20da%20pers.png?VersionId=MJyJqMzfMqom4a.l9EIiIZW8cYP24Mf1" />

The apartments, designed by&nbsp;SRH Architecture, will range in size between 114 sqm and 220 sqm.

SRH’s architectural plans indicate a contemporary façade treatment with varied setbacks to address both Marvell Street and Marvell Lane frontages.&nbsp;

Landscaped common areas are proposed, including 134 sqm of gardens, while deep planting is incorporated to improve the interface with surrounding properties.

BASIX commitments show the project exceeding NSW sustainability targets, achieving a water score of 49 against the target of 40, and an energy score of 61 over the target of 60. All apartments have been designed to achieve compliance with thermal performance standards.

<img alt="Marvell Ln, Byron Bay 2481 NSW" data-entity-type="file" data-entity-uuid="be1365f4-91b0-4c79-9e30-b91c6867140b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marvel%20St%20byron%20bay.png?VersionId=PXxTyxp.HkNEQxiIwuUDlbQn2f.UC_l5" />

The development would involve the demolition of a single storey cottage on the site.

RNB Property Group has developed across Sydney's affluent eastern suburbs for decades. They met with the Byron Bay Council prior to the recent submission. They only received one written submission from locals, who requested a redesign of the building to respond more&nbsp;to the local context through form, material palette and native landscaping.

Changes to aspects of the design have been undertaken in response to the feedback.

Eastern Suburbs developer heads north to Byron's Marvell Street

Once home to MacRobertson’s Garage and Workshop, a small corner of <a href="https://www.apartments.com.au/developments/fitzroy-vic-3065">Fitzroy</a> is soon to host a new sculptural landmark, with its design intent rooted in the textures and stories of the streets around it.

Developed by <a href="https://www.apartments.com.au/developers/chapter-group">Chapter Group</a> in partnership with <a href="https://www.apartments.com.au/developers/cdl-australia">CDL Australia</a> and <a href="https://www.apartments.com.au/developers/crema-group">Crema</a>, <a href="https://www.apartments.com.au/new-apartments/fitzroy-fitzroy-411-421-smith-street-fitzroy-vic-3065">Fitzroy Fitzroy</a> comprises 63 one, two, and three-bedroom apartments behind the heritage brick façade.

&nbsp;

[smartcode_project:default project_id=14394 project_image_fid=183064]

<a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> led the design process with a clear vision.

“What really inspired our vision for Fitzroy Fitzroy was to create almost a sculpture that could sit on the actual heritage base itself,” says Koos de Keijzer, Founder and Principal at DKO.&nbsp;

The design team shaped the western side of the nine-storey building into a chamfer, opening interiors to light and views while defining the building’s distinctive form.

The façade’s rhythm is broken by recessed loggias.

"We feel quite strongly about loggias, an outside area that sits inside and is quite protected from the wind and from the sun. We've also got these Juliet balconies where&nbsp;the wall starts to open up just to captivate the outdoors and bring it indoors.”

&nbsp;

[smartcode_project:default project_id=14394 project_image_fid=183066]

Inside, DKO crafted flexible layouts to encourage residents to live their own way.

“We really wanted to create something which people have an individual say on how they live,” says Michael Drescher, DKO's Interior Design Director.

Kitchens feature two contrasting stones, a durable surface at the cooktop and a natural stone island, with abundant storage and built-in banquet seating to encourage shared meals and socialising.&nbsp;

[smartcode_project:default project_id=14394 project_image_fid=183071]

Bathrooms carry the same stone for a cohesive aesthetic, informed by hotel design cues to create “a high level of glamorous” while remaining highly functional.

On levels seven and eight, apartments are tucked behind the building’s chamfer, creating outdoor terraces that range from expansive entertaining areas to sheltered, intimate spaces beneath the pitched rooflines.&nbsp;

[smartcode_project:default project_id=14394 project_image_fid=1010]

Residents also have access to a rooftop retreat with panoramic views, alongside the Smith Club, a private lounge for social gatherings, and a laneway arcade linking Smith and Leicester Streets, a deliberate nod to Melbourne’s arcade culture.

For de Keijzer, the outcome is a project that feels inherently local, that that is “truly authentic in a Fitzroy context”.&nbsp;

Fitzroy Fitzroy is already 70 per cent sold, attracting predominantly local owner-occupiers. <a href="https://www.apartments.com.au/builders/cobild">Cobild</a> is expecting to complete construction in Q4 2025, with residents moving in shortly after.

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For Koos de Keijzer, Founder and Principal at DKO, the outcome is a project that feels inherently local, that that is “truly authentic in a Fitzroy context”

Fitzroy Fitzroy: Designed by locals, rooted in place

Chevron Island is set for a little slice of New York with the upcoming completion of Greenwich, the newest development by Ention Properties.

<a href="https://www.apartments.com.au/new-apartments/greenwich-surfers-paradise-30-anembo-street-surfers-paradise-qld-4217">Greenwich</a>, a boutique 15-level development with just 46 apartments on Anembo Street, just off Chevron Island Park, has been designed by Ferro Chow to look like Manhattan's famous Flatiron Building.

[smartcode_project:default project_id=6647 project_image_fid=171555]

Ention has refined the design and the make-up of the building over several years, reducing the number of apartments and increasing the internal floor areas of the apartments.

The remaining apartments for sale, which start from over 100 sqm and range in size up to the 209 sqm, penthouse-style offering, start from just over $1,129,000. There are a handful of two and three-bedrooms remaining, each with views over the Gold Coast skyline and waterways from the balconies and living areas.

[smartcode_project:default project_id=6647 project_image_fid=183797]

<a href="https://www.apartments.com.au/architects/ferro-chow-architects">Ferro Chow Architects</a> led the design, placing emphasis on curved forms, expansive arched floor-to-ceiling windows, and a natural palette that connects the interiors with the parkland and river landscape.&nbsp;

Each apartment features wide-plank oak flooring and a refined materials palette, including marbled stone kitchens and premium Miele and V-ZUG appliances.&nbsp;

[smartcode_project:default project_id=6647 project_image_fid=183798]

Greenwich’s amenity is anchored by a rooftop pavilion dedicated exclusively to residents, comprising an infinity-edge pool, daybeds, poolside cabanas, a BBQ area, and a yoga and relaxation lawn.

The elevated vantage point offers sweeping city and water views, complementing the project's positioning at the quiet residential end of Chevron Island, but also just off the Thomas St village strip.

Jayde Pezet, Director at Pezet Matheson, says buyers have been drawn to the central location of the development, abutting public open space, with water and skyline views.&nbsp;

"Greenwich offers residents unparalleled walkability to HOTA, waterways, Surfers Paradise golf course, beaches and dining precincts.&nbsp;Also the stunning architectural design of the towers facade coupled with exquisite rooftop amenity has drawn attention from buyers and local residents alike."

[smartcode_project_cta:default project_id=6647]

Jayde Pezet, Director at Pezet Matheson, says buyers have been drawn to the central location of the development, abutting public open space, with water and skyline views

Ention Properties release final Greenwich, Chevron Island apartments ahead of September completion

Three years after completion, <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> on the Parramatta River remains one of the suburb's most distinctive residential towers, not just for its 46-storey presence on the water, but for its integration of the Southern Hemisphere’s first fully robotic car park, now well-proven in daily use.

Delivered by <a href="https://www.apartments.com.au/developers/novm">NOVM</a> and EQ Construction and designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the $300 million development brought 414 apartments to Parramatta’s CBD fringe at a time when the city was undergoing rapid transformation into Sydney’s second CBD.

The nine-level basement, combining three conventional parking levels with six automated levels, was designed and installed by German firm Lödige Industries using its Cubile technology. The system has now been in continuous operation for three years, handling 327 vehicles through five transfer cabins.&nbsp;

[smartcode_project:default project_id=5743 project_image_fid=5369]

Residents drive into the cabins, and flat robots move their cars to available bays without ramps or human intervention. The technology is compatible with all common cars and SUVs up to 2.5 tonnes and typically retrieves vehicles within minutes via a smartphone app.

By storing up to 60 per cent more vehicles than a conventional design, the automated format reduced excavation depth during construction and continues to deliver operational benefits, including lower emissions from underground vehicle movements and improved resident safety.

NOVM CEO and Executive Director Adrian Liaw said the decision to adopt the technology was aligned with the team’s focus on both efficiency and resident experience.

“For The Lennox we wanted both a modern functionality and timeless aesthetic combined with our customary meticulous quality and craftsmanship. The automated parking technology from Lödige Industries offers both the innovative functionality and luxurious user experience we were keen to create and the performance we needed to see.”

[smartcode_project:default project_id=5743 project_image_fid=5371]

The Lennox offers a mix of one, two, three and four-bedroom apartments, all designed with open-plan living areas that extend to private balconies.&nbsp;

Interiors are finished in neutral tones, complemented by engineered timber flooring, stone benchtops and integrated appliances, while many residences on the upper levels enjoy expansive river and district views.

Resident facilities are centred around The Watermark precinct, a 20-metre indoor heated pool, outdoor terrace, BBQ areas, gym, fitness studio and conference room. Ground-floor retail fronts the river walk, linking directly to public open space.

[smartcode_project:default project_id=5743 project_image_fid=5370]

Since The Lennox’s completion, Parramatta has continued to experience population growth and infrastructure investment, with the light rail under construction and the Metro West line expected to link the CBD to Sydney in around 20 minutes.&nbsp;

Waterfront residential opportunities remain limited, with most prime sites either developed or earmarked for public use. In a market where on-site parking ratios are trending down in new approvals, The Lennox’s combination of a high-capacity robotic car park and established riverfront address continues to differentiate it among completed stock.

A limited selection of apartments at The Lennox remain available, with immediate occupancy.

[smartcode_project_cta:default project_id=5743]

Suburb	Postcode	Rental median (weekly)
HAYMARKET	2000	$695
BIRCHGROVE	2041	$650
PYRMONT	2009	$650
SYDNEY	2000	$640
BALMAIN	2041	$610
WATERLOO	2017	$572.50
BOTANY	2019	$560
WOOLLOOMOOLOO	2011	$550
ERSKINEVILLE	2043	$550
ROZELLE	2039	$547.50

Ten most expensive suburbs for unit rentals in Sydney: RP Data

Alistair Walsh

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