Leichhardt Council has recently voted to rezone the land around the Carrier/Multiplex site on Terry Street in Rozelle from industrial to residential zoning.
This makes way for for construction company Anka Pty Ltd to lodge its development application for the Terry St site, although they have already had to reduce street-front buildings from four storeys to three storeys and the central apartment block from eight storeys to six storeys.
There are also plans underway to widen and add to the existing roads around the site to improve the traffic flow.
The size of the planned residential complex takes into account the surrounding Balmain Cove and Balmain Shores complexes which are both restricted height residential sites.
The Council approval signifies the need to significantly increase the volume of housing available in the inner west in response to strong market demand for accommodation and investment property on the Balmain Peninsula.
* information derived from http://www.leichhardt.nsw.gov.au/IgnitionSuite/uploads/docs/minutes-oct2012-pc.pdf