By ANNA USHER

A landmark 46 storey apartment complex in the heart of North Sydney has been approved by the NSW Independent Planning Commission.

The “build to rent” tower located at 146 Arthur St will see the redevelopment of an existing office block into 390 apartments set to change the landscape of the city’s second CBD.

Developer, Aqualand, which made a state significant development application for the project, says the building will offer “high quality rental apartments (and) expansive views of Sydney Harbour” towards the city skyline.

Trustee for JW Argyle Trust (the Applicant) sought approval for demolition of the building and construction of a massive shop-top housing development boasting retail premises, a pedestrian through-site link, basement car parking, residential amenities, co-working facilities, communal spaces and associated works.

The project is expected to support approximately 345 construction jobs and 140 retail and operational jobs.

The development application was referred to the Commission for determination after North Sydney Council objected to the proposal.

A two-member Commission Panel, comprising Clare Sykes (Panel Chair) and Suellen Fitzgerald, met with key stakeholders, conducted a site inspection and received three written submissions.

In its Statement of Reasons for Decision, the Commission found that the project supports strategic objectives to deliver housing “in support of the NSW Government’s housing target of 377,000 well-located homes over 5 years from mid2024”.

The Commission also found that the site is well-located to employment opportunities, social services and high-volume public transport, being approximately 500 metres from North Sydney Train Station and Victoria Cross Metro Station.

Key concerns raised in the submissions received by the Commission included land use, built form, impacts on local views, traffic and parking, waste management and landscaping.

The Commission has imposed a range of conditions of consent to manage potential impacts related to these concerns and protect the amenity of the location for current and future residents.

The Commission finds that the project meets planning requirements, is consistent with NSW Government policies and, on balance, is in the public interest.

All documents relating to the assessment and determination of this proposal can be found on the Commission’s website.