Two adjoining high‑rise housing projects on Alfred Street in North Sydney are moving ahead under the NSW government’s Housing Delivery Authority (HDA) after years of stalled local planning. The combined developments carry an estimated value of nearly $380 million, signaling a major shift toward delivering more residential and affordable housing in the area. 

1. Long‑Delayed Renewal for a Key North Sydney Corridor
Redevelopment discussions for the Alfred Street precinct date back more than a decade, with earlier efforts hindered by unresolved height and land‑use controls. The area sits just outside North Sydney’s core commercial spine but is within walking distance of major rail and upcoming Metro services, making it a strategic location for new housing. Despite strong employment growth, the district has underperformed on housing approvals relative to its targets.

Momentum increased in 2025 when the HDA designated the precinct as State Significant Development, shifting assessment from council to state authorities and clearing a pathway for advancement. 

2. 275 Alfred Street: Lead Project Moving Into Advanced Stages
The 275 Alfred Street proposal, submitted by One 275 Alfred Street Pty Ltd and Two 275 Alfred Street Pty Ltd, is the more advanced of the two projects.

Key Features:

• 39‑storey mixed‑use tower replacing an existing 20‑storey commercial building

• Designed by FJC, valued at $247.2 million

• 184 apartments above a three‑level podium with ground‑floor retail and a communal open space

• 10 basement levels including parking for 172 cars, bike storage, servicing areas

• Apartment mix: 1‑, 2‑, 3‑ and 4‑bedroom units

• 38 affordable apartments (15% of the total), managed by Evolve Housing for 15 years

This building contributes substantially to the area’s shift from commercially zoned land to mixed-use housing, supporting population growth near transit hubs.

3. 271–273 Alfred Street: New Proposal Entering Assessment
The neighbouring site at 271–273 Alfred Street has recently entered the system seeking assessment requirements.

Highlights;

• A new mixed‑use tower proposed under the HDA pathway

• Approximately 100 apartments, including affordable housing components

• Part of a broader effort to rezone the land from commercial-only uses to mixed-use, allowing significant height and density increases

While this project is earlier in the pipeline, it forms an essential part of the Alfred Street precinct’s coordinated redevelopment strategy.

4. Strategic Importance for North Sydney’s Housing Needs

Both towers aim to:

• Unlock housing supply in one of North Sydney’s most strategically positioned corridors

• Provide affordable housing, responding to regional targets

• Shift long‑underutilized commercial land into much‑needed residential stock

• Align with government‑backed fast‑track mechanisms to accelerate development in well‑connected areas

Together, the projects would deliver about 280 new apartments, energizing the eastern edge of the CBD and contributing to broader state housing goals

Source: The Urban Developer