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Property developer and investor Holdmark has received the green light for its $658 million revamp of Burwood Place that will transform the inner west suburb with new residential and office towers surrounded by space for the community.
The landmark proposal was approved by the Burwood Council this week and will see the connection of two adjoining blocks in the heart of Burwood’s CBD, a new library and entertainment precinct with fresh food markets and specialty providore.
Holdmark founder and managing director Sarkis Nassif said it was a “once in a generation” opportunity to revitalise the precinct and “provide the community with world-class facilities to live, work and play”.
An artist’s impression of Holdmark’s $658 million renewal of Burwood Place.
“Our vision for Burwood Place is to create a welcoming and engaging destination for the community that brings together retail, work and residential forms to support the evolving Sydney lifestyle,” Nassif said.
The proposal, which was first lodged with Burwood Council in September 2015, and modified after community consultation, involves merging the block on either side of Wynne Avenue and fronting Railway Parade, at Burwood and constructing a new residential precinct.
Burwood sits between the CBDs of Sydney and Parramatta and will also be the home to the Burwood North metro station which is currently under construction.
Holdmark is a Sydney-based diversified property development and investment group that was founded close to 30 years ago. Its other proposed developments include a major office and hotel development in the Sydney CBD by building on the site of the Bligh House complex it acquired this year for $210 million.
In 2020, the group paid $113.89 million for an office tower in North Sydney and has plans to develop a twin tower project in Parramatta.
The Burwood Place precinct, designed by Cox Architects and Architectus, will include 1040 apartments divided into four residential towers, ranging from 20 to 42 levels and an A-grade commercial office building. There will also be 4100 square metres of new public domain areas that will include the public library and an urban park.