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Lendlease withdraws application for 1 tower in A$750M Sydney resi scheme


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Lendlease withdraws application for 1 tower in A$750M Sydney resi scheme

Lendlease Corp. Ltd., following a community consultation, withdrew its development application for one of the three residential towers planned for its A$750 million development at the One Sydney Harbour precinct, The Australian reported.

The development of the three towers in the precinct, which forms part of the wider A$6 billion Barangaroo South project in Sydney, was already pushed back in 2016 after their designs were ruled to be non-compliant to the Australian city's guidelines. According to the Aug. 10 report, the company intends to make further changes to the third building's design, which was initially planned to feature 29 stories and offer 151 units.

Meanwhile, the two other buildings proposed for the site, intended to rise 71 stories and 60 stories, respectively, are up for the next level of assessment after being recommended for approval by New South Wales' Department of Planning and Environment, the paper added. Collectively, the two residential buildings will add 624 units to the overall development project.

The Australian noted that the final decision on the three buildings lies with the state's Planning and Assessment Commission.

Aside from the residential buildings, the Barangaroo South development also includes a two-hectare public park that is slated for a 2021 launch.

As of Aug. 9, US$1 was equivalent to A$1.27.