'I panicked': Developer tried to end affordable housing early

Landmark, a developer focused on providing affordable housing for essential workers, attempted to prematurely end the affordable housing period at a Sydney development. The company eventually abandoned the plan but was found to have violated rules regarding tenant communication and managing conflicts of interest by a New South Wales housing regulator.

Landmark claims it has since improved its communication and support for tenants when considering changes. Despite being recognized as a leader in building low-cost housing and endorsed by New South Wales Premier Chris Minns, Landmark has attempted to reduce affordable housing commitments at some of its projects. In one instance, the developer sought to end its affordable housing commitment at a Sydney development two years early, citing changes in NSW planning law.

The developer's behavior during this matter faced criticism from a state housing regulator, which found that Landmark's housing subsidiary failed to comply with rules requiring fairness and transparency with residents. The registrar also highlighted concerns about the developer's communication and engagement with tenants during the process, noting that it did not meet the expected tenant-centred standard.

Despite the setbacks, Landmark plans to continue utilizing a NSW bonus scheme that allows developers to build up to 30% above local height restrictions in return for devoting 10 to 15% of floor space to affordable housing. Premier Chris Minns has expressed support for Landmark, attending ribbon-cutting ceremonies for new developments.