The $84 million retirement village planned in partnership with the Bayview Golf Club, on the Northern Beaches of Sydney, had a shock decision against it by the Sydney North Planning Panel last week.
Waterbrook’s application for a Site Compatibility Certificate, which had been successfully awarded in 2017 but expired, was knocked back, which prevents the approval of a development application.
Local activists have been fighting the development of 85 apartments across seven buildings, each of three stories height, claiming it would threaten endangered species and a wildlife corridor.
The golf club has been supporting the development, claiming it would ensure its financial viability for the next 20 years.
Ryan and his financiers sold his two original Waterbrook villages to Lendlease, but he retained the brand, with his first new village achieving high presales in Bowral (in Sydney’s Southern Highlands).