Mathieson Property's 70-apartment Rose Bay plan reaches assessment

A 70-apartment application linked to Mathieson Property across three Rose Bay streets is now under state assessment. Re-exhibition of the amended proposal closed on 12 August 2026, according to submissions on the record. For Woollahra agents and builders, it is a pipeline signal, not a site ready to sell off the plan or tender. The application, listed on the NSW planning portal as SSD-101842729, covers 2-6 Conway Avenue, 38-40 Carlisle Street and 15-15A Fernleigh Avenue, Rose Bay, in the Woollahra Municipality area.

The portal describes the proposal as demolition of existing dwellings and construction of an eight-storey residential flat building comprising 70 apartments, with associated landscaping, services and basement parking. The project’s own record carries no explicit applicant field; a public submission lodged against it names Two Conway Pty Ltd as the applicant, while a separate submission names Mathieson Property and Ultra Building as delivery partners. Because the application is assessed as a state significant development, the final decision rests with the state government rather than Woollahra Council.

Why it matters

Nothing about this application has been approved or decided. The portal lists its current status as Assessment, the stage after submissions on an amended scheme are collated and before a recommendation is made, so a determination is still ahead.

The Urban Developer reported in January 2026 that Alex Sicari of Mathieson Property was leading the Conway Avenue redevelopment, with Ultra Building Co as builder and Zagga named as financial backer. That reporting linked Jon Adgemis only to a home on the site, which it said lender La Trobe Financial had seized. On the facts we can verify, Adgemis is not a current party to the SSD application; Mathieson Property is the developer named in connection with the site today.

The numbers

The portal record proposes 70 apartments in an eight-storey building. Neither the portal nor The Urban Developer’s report gives a unit mix by bedroom, a construction cost or a sale price, so none of those figures is reported here.

The application spans three street frontages, Conway Avenue, Carlisle Street and Fernleigh Avenue, an amalgamation of multiple lots into a single site, consistent with the scale of the proposed building.

The amended scheme’s re-exhibition period, during which the public could lodge submissions, closed on 12 August 2026. The amendment report on the file is dated 22 July 2026.

The portal’s development type lists the project as in-fill affordable housing. The Urban Developer reported 17 of the 70 apartments as affordable units for key workers; the portal record does not confirm that split.

What’s next

The next portal stage after Assessment is a recommendation, followed by a determination. The portal gives no timetable for either step, so none is reported here.

A determination, when made, will approve the application as lodged, approve it with conditions, or refuse it. None of those outcomes has happened yet.

The Conway Avenue proposal is one of several Sydney residential applications moving through the state system this edition, alongside EG Funds Management’s 146-apartment Pennant Hills proposal.

We will report on the Conway Avenue application again when a recommendation or determination is recorded on the portal.