Sydney, Australia, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Crown Group has celebrated topping out the first building at Eastlakes Live, forming an important milestone in the most exciting residential and retail development the area has seen in decades.
NSW Treasurer Dominic Perrottet spoke at Crown Group’s ceremony on Friday afternoon to mark construction of the highest level of the first building in stage one.
Eastlakes Live by Crown Group was granted development approval in June 2020 as part of the NSW Government’s new Planning System Acceleration Program, designed to support the economy and create jobs.
It will deliver a new town centre with luxury apartments and a retail and dining precinct, which is set to transform the area into a destination in itself. Stage one is due for completion mid-2021 with 133 apartments and a shopping centre with 13 retail outlets. Stage two will follow, with a new town centre and up to 80 restaurants, cafes, shops and supermarkets.
Treasurer Perrottet said the development would deliver 490 new homes to NSW and a new shopping precinct for the Eastlakes Town Centre, creating critical jobs in the construction phase and permanent jobs after it opened.
“The health of the property and construction industry is critical in creating jobs and investment in NSW – these industries employ one in four people in the State,” Mr Perrottet said.
“Eastlakes Live is an important driver of job creation and the regeneration of the area, which is important for the NSW economy.”
As part of the development, Crown Group has committed to a Public Benefit Offer that includes $1.55 million in contributions to establish new community facilities and public spaces and $3 million in Affordable Housing Contributions.
Crown Group has also proposed a ground floor sqm community space for council use in the shopping centre in stage two.
Crown Group Chairman and Group CEO Iwan Sunito said the topping out ceremony marked an exciting milestone in the creation of the $1 billion development that is set to transform the inner south-east with world-class architecture and a desirable lifestyle.
“We are proud to see one of Sydney’s largest residential developments, with eight buildings and two shopping centres across 4ha of land, becoming the tallest point in all of Eastlakes,” he said.
“The NSW Government’s approval grants us the passage to progress with confidence.
“Our vision is to create a new community that becomes a great place to live and a drawcard attraction for people from the surrounding area. It is a central point for Sydneysiders – between the city, the airport, the beach and at the gateway to the eastern suburbs. ”
The new Eastlakes development has a stunning design by internationally acclaimed architects Francis-Jones Morehen Thorp (fjmt) and exciting shopping centre interiors by Buchan Group.
Stage one, due for completion in mid-2021, will comprise three buildings with 133 luxury apartments and a $30 million shopping centre below. The shopping centre will span 2800sqm and host 13 retail outlets including a new, larger ALDI store, Woolworths Metro, a bakery, pharmacy, hair and beauty, sushi, newsagent/post office and a car wash.
Construction of the $500 million second stage will start early 2021. Its new town centre will add a beating heart to the development, providing a gathering place for locals and visitors, with up to 65 stores and restaurants including a full-line Woolworths supermarket.
It will have convenient parking from Evans Avenue and Barber Avenue. A new eat street will offer an array of exciting restaurant and dining options alongside apartments set across five buildings. Completion of stage two is expected in 2024.
Eastlakes Lives by Crown Group offers luxury apartments for sale in a brand new lifestyle precinct from $749,000 to $1,953,000. The display centre is open daily by appointment at 19a Evans Avenue, Eastlakes.
For more information, visit www.crowngroup.com.au/eastlakes or phone 1800 853 162.
ABOUT THE APPROVAL PROCESS
The original Eastlakes Shopping Centre redevelopment was approved by the Independent Planning Commission on behalf of the Minister for Planning, in September 2013.
In June 2020, the department approved a modification application to make design refinements to the north site, and for the redesign of the southern site.
The approved changes to the south side include:
- reducing the number of buildings above the podium from 6 to 5 towers
- increasing building heights from 2 to 8 storeys above the 1 level podium and to 4 to 10 storeys above 2 levels podium
- increasing the number of apartments by 65 to 490
- increasing the total gross floor area by 9,650m to 60,469m
- The modification request is accompanied by a public benefit offer of $4.65 million, which includes:
- up to $100,000 for public domain upgrades around the site
- up to $1.55 million for community facilities and public spaces upgrades
- an affordable housing contribution estimated to be equivalent to $3 million, or 10% of the total number of additional apartments proposed in the modification.
The project was determined under the Planning System Acceleration Program, a package of measures to accelerate the assessment of projects that will inject investment into the NSW economy.
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