“
The challenge is for the market to adapt, but how quickly? Should some transition time be built into the process? We will keep you updated as the Strategy develops.
Such changes will create a very different Sydney than the current city which has in recent years seen a significant shift to residential development at the expense of commercial floor space.
The new model of mixed use development proposed in the strategy, with a limitation of residential to 50 per cent of floor area, is a notably different approach. It’s likely industry will be faced with existing structural barriers to this development type, including the structure and mandate of investment funds and future development flexibility.
There are international examples of integrated mixed use developments. However, few of them provide such a limitation on residential component. The challenge is for the market to adapt, but how quickly? Should some transition time be built into the process? We will keep you updated as the Strategy develops.
For further information, see A new era for mixed use development in Sydney CBD or get in touch with one of our experts.