Following the announcement from the NSW Government to encourage near-station development in several Sydney hotspots, property developers have wasted little time, sending letters to local residents living on sites of interest within newly rezoned areas.

Landmark Group has sent a number of letters to the residents of Roseville on Sydney’s North Shore. The developer’s Head of Sales and Acquisitions, Mark Meyer, believes residents stand to benefit from the zoning changes, if they choose to cash in.

“If you don’t align yourself with the right people, you could be left behind,” he says in an interview with The Sydney Morning Herald.

“They’ve (the North Shore) been so anti-development for so many years. The reality is we’re not delivering enough homes for the proposed population growth.”

NSW Premier Chris Minns advises homeowners to do their due diligence.

“You’ve got every right to seek and get the full value of that property. There’s not a law the government can pass, I don’t believe, that can capture that kind of market interaction.”

Local Member for Davidson Matt Cross has confirmed that a number of his constituents have written to him in regards to developer interest. The Liberal MP has indicated that he will write to Minister for Fair Trading Anoulack Chanthivong to ensure homeowners are aware of their rights.

Roseville, along with a number of North Shore suburbs – Lindfield, Killara and Gordon – have been earmarked for development by the state government due to their capacity for infrastructure. The new regulations will come into effect in April, which will see multi-residential buildings up to six storeys in height permitted, irrespective of zoning and heritage rules.

The government plans to create 185,000 via the zoning and planning changes, with 39 well-located areas across Greater Sydney, the Hunter, Illawarra and other regions will become the subject of high density developments. Eight of these sites – Bankstown, Bays West, Bella Vista, Crows Nest, Homebush, Hornsby, Kellyville and Macquarie Park – have been labelled as priority precincts. Approximately 15 percent of each of the priority precincts will be dedicated to affordable housing.

Image: Wikipedia Commons.

Jarrod Reedie

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