A prime residential site in the heart of Padstow, previously occupied by just two houses, is to be redeveloped, providing 113 new homes in a well-located Sydney suburb earmarked for growth and renewal.

National property and construction group Traders In Purple has lodged a State Significant Development Application for the mixed tenure project following finalisation of the new Local Environment Plan and rezoning by Canterbury Bankstown Council.

The project, which will include 92 apartments for private sale, 21 affordable and social homes and six commercial and retail units, is being developed on land owned by Homes NSW under its Communities Plus program which aims to increase the pool of social and affordable housing throughout the State.

Traders In Purple, which won the 2022 Urban Taskforce Award for Excellence in Affordable Housing, was awarded the tender to develop the 2992sqm corner site.

Traders In Purple Director Charles Daoud said the mixed tenure model that blends community and private housing would help to alleviate some of the pressure in the housing market and kickstart a new and exciting chapter for Padstow.

“We have real stress across the entire housing market, not only in social housing but brand new quality homes that enable first home buyers to enter the market and families to settle in a quality development,” said Mr Daoud.

“Padstow is set for an exciting new era which will see the commercial and retail centre reinvigorated and the introduction of new well-located apartments that take advantage of the existing amenity within the immediate town centre.”

“Where there were just two homes on this large well-located site, we will be adding 92 new 1, 2 and 3 bedroom homes to the private market and 21 homes for social and affordable housing.

“This is a much more efficient use of land in a middle ring Sydney suburb where there is a high demand for new housing within walking distance of established infrastructure and amenity.”

The eight-storey development, adjacent to the retail precinct, is located just 250 metres from Padstow train station and bus interchange and 100 metres from Padstow Park Public School, making it ideal for families and city workers.

The innovatively shaped design by Bonus & Associates maximises natural sunlight and cross-ventilation to apartments. A landscaped central courtyard with lawn and tree-shaded seating areas, provides a pleasant outlook from apartments and a place for residents and their friends and family to gather outdoors.

A colonnade entry off Faraday Road and multiple lobbies, leading to the courtyard, lends a sense of anticipation on arrival and an opportunity for residents to be in nature whenever they leave or return home.

In a move that will future proof residents from rising costs, solar rooftop panels will offset grid demand and reduce electricity costs for communal areas with potential for any excess generated to be sold back to the grid. The 149 car spaces will be provisioned for EV charging.

Mr Daoud said Padstow’s relative affordability and proximity to amenity and public transport had put it on the radar for a wider demographic of Sydney buyers.

“There is very limited supply of new apartments for sale in Padstow despite it having all the essential ingredients for a range of households, from young singles and couples to families and downsizers,” said Mr Daoud.

“Like all of Sydney, house prices have risen dramatically over the past five years. Padstow’s median house price in 2019 was $900,000 making it attainable for young families. Today it is close to $1.4 million.”

“Over the years there has been very little apartment development. This project will add to the diversity of housing choice that is so desperately needed.”

“Future residents will only have to walk 250 metres to the train station and can be in the city in approximately 30 minutes. There’s a lively dining and shopping precinct with a range of cafes and restaurants and with the local primary school only a block away this makes the family juggle far easier to manage. Parents can walk children to school and be on the train and in the office without having to stress.”

“This benefits both our private buyers and community housing tenants making it easier to manage the competing pressures of modern life.”