It was back in 2017 when RetireAustralia bought the unoccupied six two-storey buildings that comprised the Caroline Chisholm Retirement Village in Lane Cove, 9km northwest of Sydney’s CBD. Hall & Prior’s Caroline Chisholm Aged Care remains in operation next door.

Three years later RetireAustralia sought to build 93 dwellings in two buildings (29 independent living apartments and 64 assisted care apartments).  One building was to be eight storeys, and the other building was to be seven storeys.

The site compatibility statement by North Sydney Planning on 7 October 2020 specified that the development must have one six-storey or 18m tower and a four-storey or 12m building.

In October last year, the new plans by architects Jackson Teece now complies with two buildings of six storeys and four storeys for eight one-bedroom apartments, 35 two-bedroom units and 9 three-bedroom apartments. There will be a basement car park for 54 vehicles.

The North Sydney Planning Panel will hold a public meeting on the $52M Development Application next Wednesday (16 August) at 2pm.

The SOURCE: We are now at the six-year mark since the site was acquired and a DA still has not been awarded. What hope does the sector have to grow new supply at the same growth rate as demand?