Realside pitches a “blueprint for the future”

A new proposal on Sydney’s Lower North Shore could open the door to a fresh pipeline of seniors housing, as commercial developers look to reposition excess office stock.

Lane Cove Council has asked the NSW Government to amend the E2 Commercial Centre zone to allow seniors housing as a permitted use. If approved, it would effectively enable a series of older office buildings along the Pacific Highway to be converted into Community Apartments Projects (CAPs).

Realside, best known for its commercial and mixed-use developments, has lodged a $45 million proposal to convert an office block at 170 Pacific Highway, Greenwich into an eight-storey CAP with 48 apartments for over-55s. The proposal – designed by Marchese Partners | Life3A – is now before the Sydney North Planning Panel.

Central Element has also put forward a separate CAP proposal for a nearby Pacific Highway site.

Realside CEO Linda Rudd said the Greenwich project could serve as “a blueprint for the future”, arguing that adaptive reuse offers a faster, lower-impact solution to housing supply shortages – especially for older homeowners looking to downsize close to existing networks.

An independent market assessment commissioned by Realside found that 30% of the catchment population is already aged over 55, with 69.7% of residents aged 65-plus being self-funded retirees – significantly higher than Greater Sydney’s 45.6%.

Council has formally supported the Realside proposal and recommended that the zoning amendment be applied more broadly, aligning both the Realside and Central Element applications under the same planning approach.

If approved, the Greenwich sites would be among the first large-scale office-to-seniors-living conversions in NSW.

Australian Unity’s The Alba in Melbourne – created by converting the group’s former headquarters into a residential aged care facility – remains the standout national example.