Crown Group has celebrated the ‘topping out’ of the first building at Eastlakes Live, an important milestone in one of the most exciting residential and retail developments the area has seen in decades.
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, which is due for completion mid-2021, will comprise three buildings with 133 luxury apartments and a $30 million shopping centre below. The shopping centre will span 2800 square metres and host 13 retail outlets including supermarkets, a bakery, pharmacy, hair and beauty, newsagent/post office and a car wash.
Construction of the second stage is anticipated to commence in early 2021, with completion expected in 2024. It includes a new town centre and up to 80 restaurants, cafes, shops and supermarkets.
NSW Treasurer Dominic Perrotte 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.
“Projects such as this one are an important driver of job creation and the regeneration of the area, which is vital 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 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.
“We are proud to see one of Sydney’s largest residential developments, with eight buildings and two shopping centres across 4 hectares of land, becoming the tallest point in all of Eastlakes,” he said.
“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.
About Eastlakes Live
The original Eastlakes Live by Crown Group development 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; and
- An affordable housing contribution estimated to be equivalent to $3 million, or 10 per cent 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.