Regent Street in Kogarah will be transformed with family homes being demolished to make way for high-rise development.
Dozens of homes have been bought across the area by developers keen to make the most of the recent rezoning.
As part of the new Kogarah City Plan heights of up to 39 metres are now allowed in the the Kogarah Town Centre.
Heights were also increased in parts of Allawah, Beverley Park, Blakehurst, Carlton, Hurstville, Oatley, Kogarah, Sans Souci and South Hurstville.
St George developer, Level 33, spent two years acquiring a row of more than a dozen homes on the southern side of Regent Street for a proposed new apartment development.
The company spent $37 million acquiring 15 homes which takes in homes from 71-97 Regent Street.
They will be demolished to make way for 300 units set across four buildings.
Level 33 spokesman Eddy Haddad said they had spent two years negotiating with home owners.
“This site really ticked all of the boxes in terms of convenience, as it’s literally only a one-minute walk to Kogarah train station, the St George Hospital is 100 metres away, and all the other amenities in the centre of Kogarah are on the doorstep,’’ he said.
‘’You couldn’t live in a better part of Kogarah… it’s right in the beating heart.
‘’However, we fully understood we were dealing with families here and their pride and joy, so we really wanted to look after the owners and ensure they were happy with the outcome.
‘’We live and breath in the local community and were determined to do what’s right by all here.’’
He said a project of this scale was unique to the area and would provide plenty of affordable apartments for local first home buyers.
Anna Campbell was one of the owners that teamed up to sell.
She has lived in the area for 11 years and said the decision to sell was a logical one.
‘’We were notified by the council that the rezoning could happen. We knew it was happening and it was all people were talking about in the street,’’ she said.
‘’We had a number of offers but we wanted a price that was fair and reasonable.
‘’We got online and googled what a good price was per square foot.
‘’You had to have a clear head and think logically. I saw it as an opportunity but I was more concerned about who we were going to deal with.’’
She said it wasn’t all smooth sailing having all the neighbours agree.
‘’We worked as a team but you always have one person that wants more,’’ she said.,
‘’People got greedy but everything has a market value.’’
It is not the only development planned on the street.
Across the road a development application has been lodged with Georges River Council for a 11-storey building made up of 127 units.