By ANNA USHER

A prominent Sydney developer is planning two projects worth $300 million across two sites in Mosman and Neutral Bay.

Homeowners at 25, 27, 29, and 31 Bond St in Mosman have joined forces to create a 1,700 sqm super site, set for a luxury apartment block if approved.

Nearby, numbers 54, 56, 60, and 64 Barry Street in Neutral Bay have amalgamated, forming a 1,700 sqm site just a short, level walk from the local primary school and village shops.

Developer Central Element has confirmed with Mosman Collective that it is confident both proposals will be completed with an extra two levels, boosting the height from six to eight storeys, thanks to the government’s infill housing bonus.

The news comes amid growing community backlash over the “development tsunami” that is taking place across the lower North Shore.

“We understand those concerns and we take them seriously,” Central Element’s Managing Director, Nathan Chivas, told Mosman Collective.

“Our approach is always to start with respect for the neighbourhood and the community. Any proposal we bring forward will comply with planning requirements and will be designed to complement the existing streetscape.”

Mr Chivas said the Neutral Bay development will carry the same design values as Pienza, the luxury “urban resort” nearing completion on Waters Rd.

“But Barry Street has incredible harbour views that bring a different dimension to the lifestyle,” Mr Chivas said, “It’s about building on what worked so well at Pienza, while letting this site’s unique qualities shine through.”

These latest Mosman and Neutral Bay plans come amid scores of local amalgamations, involving growing numbers of residents cashing in on “once in a lifetime” property deals.

Most recently, two residents at 48 and 50 Almora Street sold to local developer Prosker in an undisclosed deal.

Pending council approval, Prosker plans to demolish the houses and construct a residential complex of 14 apartments with basement parking and a swimming pool.

The cost of the construction work is listed at more than $50 million, according to the development application (DA) filed to Mosman Council last week.

Mosman LGA is required to deliver 500 new homes by 2029 as part of the state government’s commitment to building 377,000 new homes across NSW. However, only 10 homes have been built per year for the past five years. The North Sydney LGA, of which Neutral Bay is part, has a target of 5,900 new homes over the next five years.