Inner Sydney's top five off the plan apartment developments to look out for in 2024
Sydney's inner ring suburbs are continuing to gentrify, and with that gentrification comes the want for new apartments.
Last year I remember speaking to Sal Quah, Deputy Managing Director at Melbourne-based developer ICD Property. He said Sydney is like Australia's New York.
"If you've done it [developed] in Sydney, then you've made it," Quah said, admitting that Sydney had always been on the radar for the prolific Melbourne CBD developer.
Indeed Sydney ranks fifth in Knight Frank's Global Prime Residential Forecast for 2024, with five per cent growth predicted ranking the harbour capital ahead of the likes of Miami and Monaco and on par with Madrid and Dubai.
While a number of city-changing projects are underway in the Sydney CBD and the surrounds, we've looked past those and to some major, and some more boutique projects which are likely to be available to purchase in 2024.
Project: City Tattersalls Club
Location: 194-204 Pitt Street, Sydney NSW 2000
Developer: ICD Property
Melbourne-based developer ICD Property and their joint venture partners, Singapore-listed First Sponsor, will be looking to launch their redevelopment of the City Tattersall Club this year, having already started construction on the landmark project.
The redevelopment involves the construction of a new 50-level tower above the restored, heritage listed parts of the original building. The tower will home 241 apartments and a high-end hotel with around 110 rooms.
Located in the heart of Pitt Street near Westfield’s entertainment, dining, and shopping precinct, as well as Hyde Park, the residences are expected to offer a prime location with uninterrupted water views, connectivity, amenities, and location.
Read more: How ICD became the go-to development partner for Australia's biggest councils
Richard Crookes Constructions has been appointed as the builder for the redevelopment project.
Project architects fjmt and BVN Architecture will work with the builder to deliver guest rooms and residences that pay homage to the site's heritage significance.
The project is expected to support more than 1,600 jobs during the construction phase and create significant long-term economic benefits once completed. Construction completion is expected in 2026.
Project: Fig & Wattle
Location: 14-26 Wattle Street, Pyrmont NSW 2009
Developer: Landream
Landream will be looking to advance their plans in Pyrmont for their $330 million, multi-building development, Fig & Wattle.
Landream is set to capitalise on the $750 million Sydney Fish Markets redevelopment at Blackwattle Bay, adjacent from the 12,381 sqm Wattle Street site they bought from the Sydney City Council in 2021.
Sydney-based architecture firm BVN won the design competition, a competition which the City of Sydney Council makes all large-scale developments go through.
Read more: First look exclusive: Landream's $330 million mixed-use Pyrmont plans revealed
The development will comprise five buildings, with four housing a total of 237 apartments, featuring a mix of one, two, and three-bedroom units.
The fifth building will be dedicated to commercial and office space.
One residential building will include a recreation centre with two multi-purpose indoor courts and a childcare centre.
BVN's design statement emphasises sustainability initiatives, including rainwater storage, rooftop landscaping, natural light, and ventilation for apartments, as well as efficient services like extensive bicycle parking and composting facilities.
Project: Green Square
Location: 960A Bourke Street, Zetland
Developer: Mirvac
Mirvac will be hoping to launch their next phase of the Green Square redevelopment in Zetland this year, pending council approvals.
The Green Square redevelopment has been a long-standing collaboration between Mirvac and Landcom since 2012.
Over the past decade, the focus has been on a 13.7-hectare block around the Green Square Train Station, leading to the construction of apartments, food and beverage establishments, a library, and a primary school.
The latest $315 million plans are for three towers, two designed by Tzannes Architects and one by Bates Smart, in collaboration with Mirvac's in-house design team.
First look: First look: Mirvac continue Green Square transformation with three-tower mixed-use development
The amalgamated 3,688 sqm block will flank the Green Square central plaza.
Tzannes designed a 19-level and a 14-level building which will have 124 and 183 apartments respectively, mostly two-bedroom apartments, and a few two and three-bedroom townhouses. They will feature 14 retail spaces at their base.
Meanwhile, the 21-level building designed by Bates Smart will have a further 77 apartments with a mix shifted towards larger owner-occupied dwellings.
Over 1,000 residents have already moved into the precinct, with another three projects, Portman on the Park, The Frederick, and Portman House, recently topping out.
Project: One Sydney Park
Location: 205-225 Euston Road, Alexandria NSW 2015
Developer: HPG Australia
2024 is likely to be the year HPG Australia relaunch their transformative One Sydney Park development in Alexandria.
The development, which faced launch challenges given it was launched right before the pandemic shut the country down, is set to repurpose a historically significant yet previously underutilised 2.1-hectare former warehousing site within Sydney Park.
One Sydney Park comprises eight low-rise buildings designed to house one, two, and three-bedroom apartments, luxurious penthouses, and terraces.
The project is designed by a string of award-winning architects including MHN Design Union and Silvester Fuller, in collaboration with renowned international interior firm Make Architecture and landscape designers from Sue Barnsley Design.
Most units offer park views and come with private courtyards, with some terraces opening directly onto Sydney Park. There's a series of rooftop terraces with community gardens.
Project: Farr Street
Location: 41-47 Farr Street, Marrickville
Developer: Rebel and Braxton
Rebel Property Group and Braxton will be launching their recently approved Marrickville project, the first residential development in the newly rezoned Timber Yards Precinct in Marrickville.
The PBD-designed project is designed with a focus on owner-occupiers, catering to the needs of the changing and vibrant Marrickville community.
More than 50 per cent of the residences will be large three-bedroom apartments, targeting young families and older couples looking for modern living options in Marrickville.
The joint venture partners has also acquired the neighbouring 37 Farr Street where they are planning a community pocket park with amenities such as a children's playground, BBQ, seating, and lush landscaping.