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Sydney developer Billbergia is looking to fast-track the transformation of an industrial site into a $2.2 billion master-planned development at Concord West after lodging a State Significant Development Application (SSDA) for the proposal with the NSW Government.
Billbergia, which is partnering with financier Metrics Credit Partners to deliver the Concord Central project, is proposing eight residential towers of between six and 37 levels comprising a total of 1,336 dwellings as part of the mixed-use development for Sydney’s inner-west.
The development is earmarked for a 3.14ha site at 1 King Street with the holding also providing extensive frontage along George Street.
Billbergia says the Concord Central proposal, which is located next to Concord West train station, is consistent with Transport Oriented Development planning reform principles to increase density next to major transport hubs.
The project is among the largest seeking SSDA approval since the formation of the Housing Delivery Authority earlier this year to streamline the approvals process.
“Concord Central is an exciting opportunity to define forward-thinking liveability in Sydney’s inner west,” says Saul Moran, Billbergia’s development director.
“Designed in collaboration with four leading architects, the project will deliver a contemporary urban village that integrates retail, dining, and essential services.
“Concord Central will create an elevated inner-city lifestyle while also unlocking benefits for the surrounding community.”
The development will include 5,000sqm of open space with a multi-purpose mini sports field and a playground set amongst parklands.
A new loop road connecting King and George Streets is also included in the plans.
Concord Central will also include convenience retail such as a supermarket, specialty shops and cafes, as well as a ground-level civic plaza. A new childcare centre will also be integrated into the development as part of the masterplan.
“Through this joint venture on Concord Central, we are responding directly to Sydney’s growing need for well-designed housing and community infrastructure,” says Metrics CEO Andrew Lockhart.
“Having identified the investment opportunity in early 2019, this development closely aligns with state and federal government housing priorities and reflects Metrics’ ongoing commitment to supporting economic growth and job creation while delivering excellent outcomes for our investors.”
Pending approvals, Billbergia is anticipating construction could start by late 2026 with completion in 2029.
The company says Concord Central will also deliver more than $100 million in financial contributions toward state and local government infrastructure, including funding for affordable housing, and local infrastructure works such as stormwater upgrades and major intersection upgrades at George and Pomeroy Streets.
Plans for Concord Central have been lodged with the Department of Planning, Housing and Infrastructure and are expected to go on exhibition soon.
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