The Sydney Morning Herald logo Advertisement Eastern suburbs residents have launched a campaign of resistance against a proposed $78 million development that seeks to leverage the state government’s housing incentives to replace an older residential block with luxury apartments.
Ah, Paddington. A charming suburb known for its picturesque streets and, apparently, its knack for stirring up a good ol’ controversy. Recently, plans were approved to replace a rather humble three-story building filled with 27 studio apartments with a shiny new eight-story luxury apartment complex. Cue the dramatic music and the collective sigh of 332 residents who just can’t seem to catch a break.
Let’s break it down: developer Toohey Miller is set to invest a whopping $85 million into this project. Now, if you’re thinking, “Wow, that sounds like a lot of money for a few extra apartments,” you’re not wrong. But these aren’t just any apartments; these are luxury units, which, in developer speak, means they probably come with gold-plated faucets and views that make you feel like you’re living in a postcard.
However, not everyone is raising their champagne flutes in celebration. In fact, the local MP and the Woollahra Council have joined forces with the residents to express their concerns. They argue that this development threatens housing affordability in an area where the cost of living is already through the roof. Who knew that tearing down affordable housing to build luxury condos could be seen as a bad idea? It’s almost like they didn’t get the memo about the growing demand for affordable living spaces.
Now, let’s not forget the elephants in the room: the 332 objections. Yes, you read that right. Three hundred and thirty-two people said, “No, thank you!” to this luxury development. That’s a lot of people who are not just shaking their heads but are actively voicing their displeasure. One can only imagine the community meetings—probably filled with passionate speeches and more than a few eye-rolls aimed at the developers.
It’s a classic case of ‘the rich get richer while the poor get… well, poorer.’ The new luxury apartments might provide a beautiful view of the Victoria Barracks, but the view from the other side is a lot less rosy. For every shiny new apartment, there’s a struggling family wondering how they’re going to afford rent, let alone a mortgage.
But hey, who needs affordable housing when you can have a rooftop terrace that overlooks the entire suburb? Nothing says luxury like sipping a cocktail while watching your neighbors struggle to make ends meet.
In the end, it’s clear that the battle between luxury and affordability is far from over. As Paddington gears up for a transformation that some are calling progress, others are left wondering if it’s really progress at all. So, will the new luxury apartments bring prosperity to the area, or will they just add to the growing divide? Only time will tell, but for now, the residents of Paddington are certainly not rolling over quietly.
In the meantime, if you’re looking to buy a slice of that luxury life, good luck! You might need to take out a second mortgage, sell a kidney, or just settle for a really nice view from the street. After all, who needs a roof over their head when you can have a luxury apartment that’s just a little out of reach? Cheers to progress!
Inspired by: “Fourty-four new homes, 332 objections: Why older units will be razed for luxury Paddington apartmen…” (r/Local)