Green light for 340-apartment tower near Central Station as planners back major mixed-use renewal

A significant new development has won planning approval near Sydney's CBD, marking a turning point in how the city is managing growth around its transport corridors. The 16-storey mixed-use project on Gibbons Street in Redfern will deliver 340 apartments, ground-floor retail and a public plaza, with completion targeted for 2029.

The approval comes at a critical moment for inner-city renewal. With NSW's median property price hovering near $1.4 million and inner-ring supply remaining stubbornly tight, planners have been under pressure to unlock larger sites while managing heritage concerns and community expectations. This Redfern project addresses both: it sits adjacent to heritage conservation areas rather than within them, and developers have committed to 15 per cent affordable housing—around 51 apartments rented at below-market rates for 25 years.

"This is the kind of density we need near transport hubs," says the development's planning statement, noting proximity to Central Station, the Airport Line, and bus networks serving the Inner West and eastern suburbs. The site's current use as ageing commercial warehousing meant it was ripe for renewal—a pattern playing out across Redfern, Alexandria and Waterloo as older industrial precincts attract residential investment.

The approval also reflects evolving thinking about activation. Unlike earlier apartment-tower models that created dead zones at street level, this development prioritises the public realm. The plaza will be open 24 hours, with a cafe, flexible event space, and links to Gibbons Street's emerging cafe culture and proximity to Redfern Station's forecourt.

Market watchers note the timing is significant. Recent clearance rates across Sydney have stabilised around 65-72%, and while inner-west precincts like Marrickville and Enmore continue commanding premiums, Redfern has become increasingly sought-after by owner-occupiers and investors alike. Comparable one-bedroom apartments in the area currently trade in the $650,000–$750,000 range, with two-bedrooms reaching $950,000–$1.1 million.

The project also includes 150 bicycle parking spaces and 95 car spaces—a ratio reflecting transport accessibility rather than car dependency. This aligns with NSW planning reform encouraging lower parking minimums near major transit nodes.

Concerns raised during consultation centred on construction impact and traffic during the three-year build. The developer has committed to a construction management plan and staggered delivery to minimise disruption to Redfern's residential streets.

For the broader market, the approval suggests the pipeline of medium-density projects near the CBD will accelerate, potentially easing pressure on inner-ring prices as supply gradually increases.

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