‘Sydney needs more housing’: The church adding an eight-storey unit block

In an unprecedented act of faith, the Anglican church has teamed up with a private developer to deliver housing for sale in exchange for the resurrection of a local church and the provision of new parishioner, and community, spaces – and dozens more parishes are interested in following suit.

Construction work begins on Tuesday on 48 luxury apartments in Sydney’s Lane Cove, on land adjoining the 1924 St Andrew’s Anglican Church that will be renovated and extended with a new 400-seat auditorium, offices and car parking.

It’s the first partnership between Anglicans and a private developer and could lead to a slew of others that use church land and buildings located close to suburban centres.

“This is a good project that will provide community space that wouldn’t otherwise exist,” said the Anglican Bishop of North Sydney, Chris Edwards. “In addition, Sydney needs more housing, and we want to help.

“The church in Lane Cove is growing, and parishioners need a bigger building and more facilities, and the community needs more cultural spaces. By selling the airspace, we’ve ensured this is a win for everyone.”

The Anglican Church in Sydney has, in the past, redeveloped an old, disused church and land in Beacon Hill to build specialist social housing for young people with disabilities. It has also secured approval to build new apartments integrated with churches in Bankstown and Regents Park for single women over the age of 55, to be operated by its sister organisation, Anglicare.

“But in the case of Lane Cove, unfortunately the finances didn’t stack up for social or affordable housing,” said Sydney Anglican Property chief executive Ross Jones. “The key driver was that the parish is growing out of its space, and it’s no longer fit for a modern ministry.

“So we went into this first partnership with a developer, Traders in Purple, and we’d love it to be the beginning of many more. There is a community housing crisis, and we want to help provide a solution.”

The Anglicans have 270 parishes in the Sydney diocese, with 1000 properties, and at least 30 of those have already expressed interest in pursuing projects with developers. Five sites – in Five Dock, Marsden Park, Riverstone, Box Hill and Catherine Fields – are now in the pipeline.

The Lane Cove project, the eight-storey, $800 million Finrose Residences, at the corner of Finlayson Street and Rosenthal Avenue, is the first off the block, with the two- and three-bedroom apartments starting at $2 million.

Pre-sales have, so far, been strong, with the penthouse selling for $5.5 million, a new record for Lane Cove, which has a median unit price of about $950,000 and a house median exceeding $3 million, on Domain data.

Traders in Purple executive director Charles Daoud said his company has developed former churches in the past, notably South Cronulla Uniting Church into residences The Abbey, and another disused church in Goulburn into homes.

“But this is the first time we’ve partnered with a church that’s continuing its use on the site,” he said.