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NSW Redfern major changes coming

Discussion in 'Where to Buy' started by Ajax, 24th May, 2016.

  1. Ajax

    Ajax Member

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    This article, Clover Moore alarmed by Waterloo apartment plans,

    The Sydney suburb that will dwarf London's squeeze

    contains an interesting picture of Urban Growth's development plans that also appear to affect government housing in Redfern. The large towers in the Redfern estate on Morehead Street backing onto Young Street are no more (see area on right hand side of the attached development plan).

    It looks like tower apartment to be built on Elizabeth Street opposite Redfern Park (where there are currently 3 storey housing commission units).

    It is the logical development of the State government making substantial $ from selling off government land in other inner city areas (that started with sales in the Rocks about 10 years ago). Waterloo (and Waterloo station precinct and the removal of the large housing commission towers) is now a done deal. Urban Growth property development plans.jpg The next cab off the rank will be Redfern east housing commission areas.

    A quote from the article "According to the (City of Sydney) council, UrbanGrowth's plans for Central to Eveleigh involve doubling the population along the rail line from 52,000 to as much as 108,000."

    Now that is a lot of people in a small area.

    Ajax
     
    Last edited: 24th May, 2016
  2. Ajax

    Ajax Member

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  3. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    Im happy I own something in a low rise building in the area, just a 4 minute walk to Redfern station. Because at some point in time, Council may decide it can go highrise. :)

    And if that never happens, it doesnt matter, since its a darn convenient location anyway...
     
    Observer likes this.
  4. Ajax

    Ajax Member

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    Olivia Gardens Surry Hills.jpg Owning in a low-rise building may be good. It wasn't good for owners of units in Olivia Gardens Surry Hills whose units were valued by valuer general then compulsorily acquired. Demolished to make way for light rail from Devonshire Street thought to South Dowling Street. Some owners argued they were offered 200k below market value.
     
    Last edited: 25th May, 2016
    luckyone likes this.
  5. jins13

    jins13 Well-Known Member

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    That's really sad to hear but wonder if the owners were realistic on their valuation of their units due to the crazy Sydney boom.
     
  6. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    Plans lodged for "The Block"

    https://www.google.com.au/amp/s/amp...students-under-new-plans-20170221-guibej.html

    I quote "However, the City of Sydney has already raised concerns, namely that the new building proposes a "significant departure" from the height and floor space standards for the site."

    While it will be good to see something there, i'm not sure if the height and density proposed is good or bad. It is in a very convenient spot though, but it will be a lot higher and more dense than the surrounding buildings.

    Maybe i'm thinking like a NIMBY.

    But if I think with my "investor hat" on then I think "Oh, then maybe this will set a precedent and higher density could be allowed where my apartment is....."
     
  7. Gockie

    Gockie Be the change you want to see in the world Premium Member

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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    I read bits of that article earlier today. How can COS give sites on one side of the road a higher FSR and not to the Block?

    Canada Bay tried it with Rhodes and have granted higher fsr subject to a VPA.

    this is the methodology of COS nowadays. If a developer wants the fsr, it's allowable but with huge $$ in the VPA.