Boomer housing market under assault from build-to-rent interlopers
LONDON: The baby boomer housing market is under assault from an army of build-to-rent interlopers.
Private developer Deicorp is advancing plans for a major unit project in the inner Sydney suburb of Zetland as it looks to address the city’s unit shortage.
Design teams led by two top architectural firms were selected in separate design competitions for their visions of the five main building in Deicorp’s proposed 580 apartment development at Joynton Ave, Zetland.
Designs for 350 apartments across two buildings by Candalepas Associates and emerging architects Lachlan Seegers Architect, and 230 apartments and three buildings by Fender Katsalidis with Besley Spresser were chosen after a competitive design process managed by the City of Sydney.
The project is on a 2.86ha site that Deicorp picked up from Ausgrid for about $180m in 2022. It earlier bought another Zetland site from the private Lincoln Development for $140m in 2020, where it is undertaking Downtown Zetland.
The proposed development forms part of Green Square’s revitalisation, where more projects are being completed.
“Deicorp is delighted to once again be working with some of Australia’s most respected and capable architectural practices to help us deliver beautifully designed homes in the vibrant Green Square precinct,” Deicorp founder Fouad Deiri said.
“The success we’ve enjoyed at our Downtown Zetland project, and the strong buyer interest in The Rothschild Rosebery apartments highlights the appeal that well-designed and well-located properties in this part of the city present,” he said.
At Joynton Ave, Deicorp will develop 1300 apartments overall, which Mr Deiri said would provide well-located homes.
The Fender Katsalidis and Besley Spresser design of three buildings will include 1400sq m of retail and commercial space. There will also be upgrades to the public spaces around the project, including Biyanbing Park, and Zetland, Ascot, George Julius, Victoria Park, Grandstand and Defries Avenues, costing $14.5m.
Fender Katsalidis partner Craig Baudin said the project “presents a great model for sustainable medium density in our cities”.
