Sydney developers in bigger rush than buyers as projects come to market without final DA as June 30 deadline looms

“This will allow first-home buyers, astute investors, and even second-home buyers the opportunity for affordable housing in a brand-new development in one of Sydney’s most rapidly developing locations, so close to the city centre,” says Vertzayias.

Goulding says the building has been approved under the master plan for the Prince Henry Hospital site, but it has not secured final development approval from Randwick Council. He says the developer expects approval in September or October this year.

The original hospital that sat on the 85-hectare site dates back to the 1880, and by the time the renamed Prince Henry Hospital was decommissioned in 2001, it had sprawled out to 60 buildings. The NSW government and developer Stockland announced a plan to transform the site into a $400 million development in 2004. The community is now home to more than 600 households.