Sydney’s Five Ways Junction Set for Transformation as Deicorp Initiates Major Development Plans

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Prominent Sydney developers, Deicorp, have announced their desire to push forward with a comprehensive development application for an upcoming mixed-use project, building on the recent gazettal of a Planning Proposal for the famed Five Ways junction in Crows Nest, Sydney.

The Planning Proposal underwent evaluation by the Sydney North Planning Panel, receiving approval in late 2024. Deicorp’s journey with the site has seen the withdrawal of their initial proposal in 2020 and the rejection of a subsequent application, reducing density from 36 levels to 19 levels, in 2023.

The approved gazettal outlines a 16-level development comprising 129 apartments, designed by Turner Studio. The project’s first three levels will host a podium, featuring 8,000 sqm of commercial space, while seven basement levels will accommodate 247 car spaces.

This milestone comes on the heels of the site’s official rezoning in December, ushering in a new era with favourable planning controls. Notable changes include an increased height limit from 16 meters to 62.5 meters, paving the way for a 16-storey mixed-use structure. City Plan, a prominent town planning firm, played a pivotal role in navigating the application process on behalf of Deicorp.

The Five Ways site, a 3,200m² triangular parcel bordered by the Pacific Highway, Alexander Lane, and Falcon Street, is strategically located just minutes away from the upcoming Crows Nest Metro Station. This ensures convenient and frequent access to North Sydney and the CBD, enhancing the overall appeal of the development.

Five Ways Site Location Map in Crows Nest
Five Ways Site Location Map in Crows Nest

Crows Nest, a central hub within the Eastern Harbour City and part of the eastern economic corridor, is undergoing significant revitalization. The new Metro Station, coupled with growth in the health and technology sectors, underscores the area’s transformation with various commercial and residential projects in the pipeline.

The redevelopment of the island site aligns with the NSW government’s ambitious place-led renewal policy for North Sydney. The successful amalgamation of 19 allotments enables a holistic redevelopment, featuring two pedestrian arcades for retail, dining, and social gatherings – fostering active frontages and transparency throughout the site.

Previous Ground Floor Plans for Deicorp's Five Ways Mixed-Use Project (Image: Turner Studio)
Previous Ground Floor Plans for Deicorp’s Five Ways Mixed-Use Project (Image: Turner Studio)

A comprehensive urban design rationale report by Roberts Day emphasizes the site’s pivotal role in the precinct’s evolution, addressing concerns about it being perceived as ‘lost space’ if not thoughtfully designed as a whole. The project, upon completion, promises to extend the village’s public domain, enhance connections to key bus transit stops, generate employment opportunities, and provide much-needed additional housing.

This landmark approval adds to Deicorp’s recent development successes in Parramatta and Melrose Park, contributing to their immediate pipeline of 1,200 apartments, alongside the 3,200 units already under construction. Notably, their Hyde Metropolitan project in central Sydney’s CBD on Liverpool Street, designed by Candalepas Associates, continues to shape the city’s skyline.

Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Australian Development Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.


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