A $1.9b residential and lifestyle precinct in Sydney’s inner west has been fast tracked for approval under a new government scheme.
The Five Dock project will consist of four residential towers up to 40 storeys high and will include about 840 apartments.
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Artist impressions of One Global Capital development on Spencer St in Five Dock.
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The project will sit on a 80,500sqm block on Spencer St and be one of the tallest structures in the suburb.
The mixed-use precinct will also include commercial and retail spaces, a hotel and public parklands.
The NSW government has deemed the project a “state significant development” under the Housing Delivery Authority, which aims to streamline approvals for new builds.
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Artist impressions of One Global Capital development on Spencer St, Five Dock expected to start construction in 2028. Picture: Supplied. NSW real estate
Iwan Sunito, the chairman and chief executive officer for developer One Global Capital, said he hopes “it will combine world-class architecture with the delivery of much-needed housing”.
“The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects,” Mr Sunito said.
“Five Dock is entering a new era of growth, and we see an opportunity to create a precinct that responds to the area’s future while respecting its established character.
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Construction is expected to start in 2028.
“We want to create a connected mixed-use precinct where people can live, work, stay and gather,” he said.
Artist impressions of the development show a central green space with ground level shops at the base of the four towers.
One Global Capital hopes the fast-track process will see the development approved by the end of 2027 so construction can start in early 2028.
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