Developments worth over $75 million that clear the 15 per cent hurdle will be fast-tracked through the “state significant development” pathway which bypasses local councils and planning panels.
They will also get access to a 30 per cent floor space bonus,and a height bonus of 30 per cent above what is permitted under the controls set by corresponding local council environment plans.
“We want to maximise affordable housing in private developments too,not just on public land,” Minns will tell the Western Sydney Leadership Dialogue in a speech at Accor Stadium on Thursday.
“This will result in more affordable housing entering the market,and more supply overall,both of which are crucial in tackling housing affordability and meeting our requirements for new dwellings.”
The changes will allow Planning Minister Paul Scully to declare complying developments as state significant,speeding up approvals (or rejections). Given the $75 million hurdle,the scheme is targeted at big developers engaged in large-scale housing projects.
The reforms,which will take effect later this year,are part of the NSW government’s commitment under the National Housing Accord to make planning reforms that enable the construction of 314,000 homes over five years.