Community Engagement — North Sydney

New homes above
North Sydney Station

Zurich has owned the existing commercial premises at 5 Blue Street, North Sydney for 40 years. Now it’s time for a new chapter — converting the existing structure into homes for residents, essential workers and young professionals, right in the heart of North Sydney.

15
Storeys incl.
ground floor
20%
Affordable
co-living
540sqm
Enhanced
plaza
$0
Cost to
government

About the project

An existing building
transformed into homes

The office building at 5 Blue Street, North Sydney, has been owned by Zurich since 1984. It sits directly above North Sydney Station’s platforms — one of the most connected locations in the city.

Rather than demolishing the structure, Zurich is proposing to keep the existing building and convert it from offices into homes — a process called adaptive re-use. Two additional floors will be added to the top, bringing the building to 15 storeys — still within the site’s current height limit.

The project will deliver a mix of apartments for sale and affordable co-living accommodation for essential workers and young professionals. New cafés and shops at ground level will open onto a completely redesigned plaza which Zurich will make available for public use.

Around 20% of the residential floor space — four times the planning requirement — will be set aside as affordable co-living, permanently, at no cost to government.

The existing building structure — frame and core — is retained throughout. Only the façade and interior changes.

Aerial precinct map showing 5 Blue Street in context of North Sydney
Aerial photograph of the existing Zurich building at 5 Blue Street
The existing Zurich Plaza at 5 Blue Street

The plans

What will change
at 5 Blue Street?

Here is what the project means for the building, the plaza and the streets around it.

Adaptive re-use

The existing office building is converted to homes. The structure stays — limited demolition. Two additional floors are added to the top, and the floor plates are slightly adjusted to better suit apartment living.

New apartments

Around 11 floors of new apartments will be available for purchase, adding much-needed housing supply in one of Sydney’s best-connected locations — directly above a train station.

Affordable co-living

Three floors will provide affordable co-living rooms managed by a Community Housing Provider. The target market is essential workers — nurses, teachers, emergency services — and young professionals. This housing is permanent.

A bigger, better plaza

The existing fragmented plaza will be redesigned as a single, flat, fully accessible space of approximately 540sqm — nearly three times the current usable area — with new trees, seating and views of the Sydney CBD. Zurich will make this privately owned plaza open to the public.

Ground floor activation

New food, beverage and retail spaces will line the ground floor and open directly onto the new plaza, creating a welcoming destination for commuters, residents and the broader community.

Station stays open

North Sydney Station will remain fully operational throughout construction. Adaptive re-use means limited demolition and no major excavation within the rail corridor — significantly less disruption than a full knock-down rebuild.

Planning process

How does this get approved?

Because of its scale and contribution to housing supply, this project is assessed by the NSW Government. The site was declared State Significant in April 2025.

✓
2025
EOI Submitted
Expression of Interest lodged; site declared State Significant
★
Now
Community Consultation
Plans shared; feedback collected
We are here
3
Mid-2026
Planning Application
SSDA lodged with NSW Government
4
Early–mid 2027
Approval
Dept of Planning determines application
5
2027–2028
Planning, Design & Procurement
Detailed design, financing & sales
6
2029
Construction Begins
Building conversion commences

Have your say

Come and meet the team

We are holding online community information sessions where you can view the plans, ask questions and share your thoughts. Your feedback is an integral part of the planning process and will be submitted with the planning application.

Session 1

Date

Thursday 14 May 2026

Time

5.00pm – 6.00pm

Online webinar via Zoom

Registrations close noon, Wednesday 13 May 2026.

Registrations are limited to 50, so register soon!

Session 2

Date

Thursday 14 May 2026

Time

7.00pm – 8.00pm

Online webinar via Zoom

Registrations close noon, Wednesday 13 May 2026.

Registrations are limited to 50, so register soon!

Can’t make the online sessions?

You can also submit feedback via email to community@5bluestreet.com.au at any time.

Frequently asked questions

Your questions answered

About the project

Why is Zurich proposing the redevelopment of the office tower at 5 Blue Street?

Zurich Australian Insurance Properties Pty Ltd (Zurich) is exploring urban renewal opportunities to revitalise the site and its surrounding landholdings as the current building has reached the end of its practical life cycle. Additionally, as North Sydney’s commercial core has shifted to the north of the CBD, in the medium to long term there remains little demand for B-grade commercial office space south of the CBD. Zurich aims to deliver a cohesive development outcome that benefits the entire community by providing a much-needed mix of uses, activating the area beyond business hours and transforming it into a vibrant, diverse, and dynamic mixed-use residential hub. The project will also help address the ongoing housing crisis in Sydney by including a range of housing options, including much needed affordable co-living housing, being targeted to accommodate health workers for Royal North Shore Hospital and other essential workers in the area.

Zurich proposes to convert the existing office building at 5 Blue Street, North Sydney, into a mixed-use development comprising residential accommodation and retail. Rather than demolishing the building, the existing structure will be retained and adapted – a process known as ‘adaptive re-use’. This conversion will include modifying the current building’s shape to include more floor space on the existing levels, as well as adding two additional floors to the top of the existing building. It will include ~11 floors of apartments for sale, ~3 floors of affordable co-living for the likes of essential workers, students and young professionals, new ground-floor retail and café spaces, and a redesigned and enhanced publicly available Zurich Plaza.

Zurich has owned the freehold lot at 5 Blue Street since 1984. Zurich is a global insurance company that relocated its Australian headquarters from 5 Blue Street to a new building at 118 Mount Street, North Sydney, allowing 5 Blue Street to be redeveloped as part of the long-term Zurich property strategy.

No. This is an adaptive re-use project, meaning the existing building structure – the frame and core – will be retained and slightly modified. The interior will be converted from commercial office use to residential use.

Adaptive re-use means converting the existing building, rather than demolishing it and starting from scratch with a knockdown and rebuild. This approach has real benefits for both the environment and the local community.

By keeping the building’s structure in place, it avoids the significant carbon emissions and construction waste that comes with demolition and a full rebuild. It also makes the most of the materials and energy that already went into building it – rather than sending them to landfill.

For the local community, the difference is significant. There’s no large-scale demolition and reduced heavy construction traffic through the neighbourhood. This means less noise, less disruption, and a much faster programme to completion. For a site directly above an operating train station, and adjacent to a bus interchange, that matters enormously.

Adaptive re-use delivers new homes sooner, with a lighter footprint – for the environment and for the people who live and work nearby.

Only two additional stories will be added to the existing building structure as part of a modest height increase, for a total height of 15 storeys. Notably, the proposed building height is still lower than the site’s current allowable height limit in the planning controls. Additionally, the floor plate will be slightly modified on many of the levels, to provide space more suitable for apartment use.

Yes, the larger knockdown and rebuild scheme currently shown on the Major Projects Planning Portal that is publicly available is no longer being pursued. Zurich is now pursuing a much smaller adaptive reuse scheme. This scheme will go on exhibition as part of the planning application process and the Government will update the Planning Portal in due course as part of this process.

The project architect is fjcstudio, a Sydney-based architecture practice. fjcstudio is a multi-disciplinary design studio noted for its commitment to design excellence and innovation, sustainability, reconciliation and the enhancement of the public domain.

Integrating the design disciplines of architecture, interior design, landscape architecture, urban design, and placemaking, fjcstudio has designed many highly acclaimed and internationally awarded projects.

Design awards include: 2x WAF World Building of the Year Award, the AIA Jørn Utzon Award, the RIBA International Award, the New Zealand Institute of Architects Medal, International Architecture Awards from the Chicago Athenaeum Museum of Architecture and Design and the International Public Library of the Year Award from the Danish Agency of Culture.

Housing and affordability

The project proposes two types of housing: apartments available for purchase, and ~3 floors of affordable co-living accommodation for the likes of essential workers, students and young professionals, which will be managed by a professional Community Housing Provider. The co-living housing will make up around 20% of the building’s total residential floor space, which is four times the minimum that is required by the planning process.

Three levels will be set aside as affordable co-living accommodation for the likes of essential workers – people such as nurses, teachers, police officers and emergency services staff, other young professionals, or those studying. These rooms will be rented at below-market rates and managed by a registered Community Housing Provider. Importantly, this housing will remain affordable in perpetuity – it will not be converted to market housing in the future and will be owned by Zurich as part of their ongoing commitment to ownership of assets in Australia.

The co-living accommodation will be made available to those eligible and the Community Housing Provider that manages the housing will determine eligibility criteria in line with NSW Government guidelines. Zurich’s vision is for the co-living to be available for essential workers who are employed in roles that serve the local community – such as healthcare workers (the site is within 3km of Royal North Shore Hospital and the Mater Hospital), teachers, and emergency services staff, allowing these essential workers to be able to live close to their workplace.

Yes. The project proposes that the co-living housing is provided in perpetuity, meaning it will not be converted to market-rate housing. This commitment will be secured through the planning consent and/or a legal agreement as part of the development approval process.

Nothing. The affordable housing component is fully funded by Zurich. There is no cost to the NSW Government or North Sydney Council for delivering this benefit.

The building and the plaza

The existing plaza at 5 Blue Street will be redesigned and enhanced. Today the space is broken up by stairs, ramps and raised planters across multiple levels, making it challenging to use and inaccessible for some people. The new design creates a single, large, flat and fully accessible plaza of approximately 540sqm – nearly three times larger than the current usable flat area and designed to maintain the commanding views of Sydney CBD and surrounding landmarks. New trees, seating, food and beverage outlets and landscaping will create a more welcoming space. Zurich will make this space readily available for public use.

Zurich is aware that a neighbouring redevelopment to the south (the Catholic Archdiocese of Sydney) are also proposing a new residential tower through the Housing Delivery Authority pathway. As part of their redevelopment, they may be proposing a new stair connection up to Zurich’s plaza. As Zurich is submitting its design and planning application prior to the neighbouring development, Zurich is future proofing its own plaza design by designating a location for the potential future stair connection to the south, should that materialise and be compatible with the design.

The project is expected to maintain a similar level of car parking to what is currently in place in the basement car park levels, which will remain in place. No upgrades to local road intersections are expected to be required.

The ground floor will be activated with new food, beverage and retail tenancies that open out onto the redesigned plaza. The aim is to create a lively, welcoming space that benefits the whole community – not just building residents.

Planning and approvals

This project is assessed by the Department of Planning, Housing and Infrastructure through the Housing Delivery Authority (HDA). Projects of this scale and significance are considered ‘State Significant Developments’ and are assessed at a state level. The HDA was established in 2025 specifically to help deliver more housing faster across NSW.

The Housing Delivery Authority is a NSW Government body established in January 2025 to fast-track the assessment of major housing projects. It focuses on well-located sites – particularly those near transport hubs – and can approve State Significant Developments more quickly than the standard planning pathway. The HDA offers a clear planning pathway for large residential and mixed-use developments, aiming to improve consistency in planning decisions and speed up assessments, without sacrificing housing quality. Zurich’s 5 Blue Street site was declared State Significant in April 2025.

Yes. The site is currently zoned E2 Commercial, which does not permit residential use. As part of the project, Zurich is seeking a concurrent rezoning of the site to MU1 Mixed Use, which allows residential development. This rezoning will be assessed concurrently to the State Significant Development Application (SSDA).

Zurich submitted an Expression of Interest to the Housing Delivery Authority in early 2025, with the site declared State Significant in April 2025. Zurich has prepared the concept design, and the project is now in the community consultation phase, where plans are being shared with the public and feedback is being collected before the planning submission. A formal planning application is expected to be lodged in mid-2026, with approval anticipated in early-mid 2027.

Subject to planning approval and detailed design, construction is targeted to commence in late 2028/early 2029. The adaptive re-use approach means construction will be quicker and less disruptive than a full demolition and rebuild.

Impact on neighbours and the community

The station will remain operational throughout construction. Zurich is committed to working closely with Transport for NSW to plan construction in a way that aims to avoid disruption to North Sydney Station and its users. One of the advantages of adaptive re-use is that it causes significantly less disturbance than a full demolition and rebuilding, as there will be no excavation and minimal demolition works.

The redevelopment will eventually require all tenancies to be vacated prior to demolition. Zurich has written to tenants advising of the proposed redevelopment to provide them with as much advance notice as possible, to support their future planning.

Given the project only adds two additional storeys to the existing building, shadowing impacts are not materially different from what exists today. The project team has undertaken detailed shadow modelling to inform the design process and ensure key parks and public open spaces are not impacted. The team will accurately assess residents’ solar access relative to the North Sydney planning controls and the Apartment Design Guidelines. These solar assessments will be provided in Zurich’s planning application.

It is envisaged that the project will not impact access to St Peters Park, however this will be further explored as the project progresses and any potential delivery methodology is understood.

No. Whilst Zurich acknowledges that neighbouring developments also intend to redevelop independently, this community engagement relates only to the Zurich owned building at 5 Blue Street. The neighbouring sites, including St Francis Xavier Church and Aqualand’s building at 15 Blue Street, form part of the broader North Sydney Station Precinct, but are separate projects that are being assessed entirely independently.

During the construction phase there will be some additional construction traffic. A traffic management plan will be prepared as part of Zurich’s planning application detailing how this will be managed. Once the construction has been completed, traffic is not expected to increase from the level of traffic generated by the existing commercial building.

Having your say

Yes. Community feedback is a formal and required part of the NSW planning process. All feedback received during this engagement period will be compiled and submitted as part of the planning application. The assessing authority (the HDA) is required to consider community feedback when making its determination on the planning application. Zurich is also genuinely interested in understanding the community’s views.

The project team

The people behind the project

5 Blue Street has an experienced team of specialists committed to delivering a quality outcome for North Sydney.

Architect

fjcstudio

fjcstudio is a Sydney-based architecture practice specialising in architecture, interiors, landscape and urban design. They’re responsible for the adaptive re-use design of 5 Blue Street and the redesigned plaza.

Development Manager

Lighthouse Project Group

Lighthouse Project Group (LPG) is Zurich’s Development Management consultant, leading the day-to-day management and coordination of the project from planning through to delivery.

Community Engagement

Polymer Studios

Polymer Studios is a built environment strategy and communications agency managing all community engagement and communications for this project on behalf of Zurich and LPG.

The project team also includes Colliers Urban Planning (planning), Arcadis (engineers) and MBM (quantity surveyors), amongst others.

Get in touch

Contact us

Email

community@5bluestreet.com.au

5 Blue Street North Sydney