First look: Prosper plans 55 new apartments in Drummoyne

Growing developer Prosper is continuing to expand its apartment pipeline, lodging plans for what would be one of Drummoyne’s largest residential projects in recent years.

The group, already active in Crows Nest with future projects planned in the North Shore, has proposed 55 apartments on an amalgamated 2,496 sqm site at the corner of St Georges Crescent and Queen Victoria Street.

Designed by Plus Studio, the eight-storey building would replace five existing homes and deliver 10 affordable apartments, enabling a height uplift under the NSW Government’s affordable housing initiative.

The $53 million proposal also features three levels of basement parking and communal open space at ground level, with the design taking advantage of the site’s natural slope towards Iron Cove to maximise privacy and capture harbour views.

Plus Studio's response draws on local precedents, including SJB’s Isles and Bianca, adopting a vertical massing strategy that reflects the original subdivision pattern. 

“The tower elements are also angled to capture water views, enhancing residential amenity while reducing visual bulk when viewed from the street,” the Plus noted in their submission.

Façade concepts take cues from Drummoyne’s waterfront identity, referencing sailing history and industrial heritage through curved forms, vertical mast-like expressions, and a palette of copper-toned pre-finished panels and light brickwork. The recessed top level offers penthouse apartments with expansive terraces and contributes to a reduced visual scale when viewed from public vantage points.

Prosper’s Development Director, Dean LaVigne, said the project is designed in full alignment with the Low and Mid-Rise Housing Policy, which champions sustainable growth and housing diversity.

"Without compromising on quality or design excellence the development will create housing opportunities for many essential workers in the area," LaVigne says.

"The design prioritises generous floor plans, landscaped communal spaces, and premium finishes to ensure residents enjoy both privacy and connection."

Prosper was founded by Colin Rahim, owner of the well-regarded construction firm Growthbuilt. The company is currently selling Kora in Crows Nest, a boutique collection of just 10 residences, which Growthbuilt is also delivering. Prosper has additional projects in the pipeline, including apartments on Cowan Road in St Ives and a new 40-storey, 270-unit tower planned for the Pacific Highway in Crows Nest. They recently completed Splendour, 25 luxury apartments in Bellevue Hill.