$176m Build-to-Rent Tower Proposed for Crows Nest TOD Precinct

$176m Build-to-Rent Tower Proposed for Crows Nest TOD Precinct

August 11, 2025

Street-level view of a proposed 16-storey mixed-use building at 270 Pacific Highway, Crows Nest, featuring a bronze-toned façade, vertical fins, and landscaped podium, with cars and palm trees along the footpath.

A $176.67 million Build-to-Rent (BTR) and mixed-use development has been proposed for 270 Pacific Highway, Crows Nest.
The 16-storey project, lodged as a State Significant Development (SSD), would deliver 168 BTR apartments alongside retail, medical and office uses.
Public exhibition runs from 7 August to 3 September 2025. The site sits within the Crows Nest Accelerated Transit Oriented Development (TOD) Precinct, identified for higher density housing and mixed-use projects around the future Crows Nest Metro Station.

Project Description

The proposal involves demolition of two 1980s five-storey commercial buildings to construct a podium-and-tower mixed-use scheme.
The three-storey podium would accommodate retail, a medical centre, and some residential units. The tower above would provide 13 storeys of BTR apartments, including 42 adaptable dwellings.
Residents would have access to communal facilities such as a gym, sauna, steam room, outdoor pool, cinema room, co-working spaces and rooftop terraces.
A landscaped ground plane, podium levels and rooftop gardens would integrate greenery throughout the building, with the Pacific Highway’s existing palm trees retained.
Two basement levels would provide 82 parking spaces (34 residential, 46 commercial, 2 courier) and 226 bicycle spaces. Access would be from Bruce Street, with upgrades to the rear service laneway to improve paving and landscaping.
Construction is expected to take around 30 months, with fit-out of commercial spaces subject to separate approvals.

Site and Location Context

The 3,796m² site fronts Pacific Highway and extends to Bruce Street. It is zoned MU1 Mixed Use, with an existing maximum floor space ratio (FSR) of 5.6:1 and a height limit of 54 metres.
The site lies 250 metres from Crows Nest Metro Station and is within walking distance of the Mater Hospital, Royal North Shore Hospital and St Leonards Health and Education Precinct.
It adjoins a local heritage item at 79–81 Sinclair Street and is surrounded by a mix of commercial, health and residential buildings.
Nearby projects include the approved 22-storey “Five Ways” mixed-use tower and other TOD precinct developments up to 40 storeys.

Planning and Approval Pathway

The project qualifies as SSD under the Planning Systems SEPP because the BTR component exceeds 60% of the estimated development cost, the location is in the Eastern Harbour City, and the EDC is over $50 million.
A concurrent Planning Proposal seeks to amend Clause 4.4A of the North Sydney LEP, reducing the required non-residential FSR from 5.6:1 to 1:1.
This change would allow the introduction of substantial residential floor space, replacing the current requirement for a fully commercial scheme.
In 2024, the Land and Environment Court approved DA193/23 for a 13-storey commercial building on the site. The new application replaces that approval with a mixed-use, BTR-led development to align with updated market conditions and policy priorities.

Market Shift – From Offices to Build-to-Rent

The shift from commercial to BTR reflects a broader trend in the Crows Nest precinct, driven by post-pandemic office vacancy rates and strong housing demand near new transport hubs.
This is not the first such change locally. Another Crows Nest project, directly above the future metro station, recently dropped its office component in favour of BTR apartments (Urban Digest: Office Plans Scrapped for Build-to-Rent Over Crows Nest Station).
These moves signal a rebalancing of the area’s development pipeline, prioritising residential yield and activating mixed-use precincts to meet state housing targets.

Community Engagement and Feedback

Consultation to date has included an online survey, letterbox flyers, email contact with the North Sydney Business Chamber and a dedicated phone line for enquiries.
Key concerns raised by the community include: traffic and parking impacts, pedestrian connectivity, increased density, and retention of existing green space.
Further engagement with North Sydney Council, Heritage NSW, Transport for NSW, and utility providers will occur during the assessment process.

Artist impression by Fitzpatrick Partners

Economic and Social Benefits

The proposal represents a $176.67 million investment, delivering 334 construction jobs and 160 ongoing operational jobs.
It includes 3% of residential GFA dedicated as an affordable housing contribution and over 3,700m² of employment-generating floor space.
Residents are expected to spend about $7.2 million annually on retail goods and services, with much of this expenditure benefitting local businesses in Crows Nest.
The development also co-locates a medical centre within close proximity to major hospitals, strengthening local health service accessibility.

Next Steps

The application is on public exhibition until 3 September 2025.
Following this, the Department of Planning, Housing and Infrastructure will review submissions before making a determination.