Developer proposes turning empty Sydney offices into seniors housing
Those Aussies who have left the office could very soon be living in one.
With rising office vacancy rates in the work from home era and housing supply continuing to fall short of demand, a property developer has proposed turning office blocks into homes.
A new development proposal could see one Sydney office block become 48 new apartments for residents over-55.
Property developers Realside have proposed an “adaptive reuse project” which would see the offices at 170 Pacific Highway in Greenwich converted into a mixed-use development which would include commercial premises as well as seniors housing.
Concept art of the proposed development at 170 Pacific Hwy, Greenwich. Picture: Supplied.
With over half of workers in Sydney (55 per cent) now working from home in some capacity, according to research from Roy Morgan, the city’s office vacancy rate has risen.
Sydney’s CBD recorded a vacancy rate of 13.7 per cent in the first half of 2025, according to CBRE.
Nationally, the vacancy rate is at its highest in three decades.
Realside CEO Linda Rudd said projects like 170 Pacific Highway could be “a blueprint for the future.”
Just down the road, the 10-storey office block at 154 Pacific Hwy is currently listed for sale and advertised as a “landmark adaptive reuse opportunity”.
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The rise of remote work has left more Sydney offices vacant.
Realside’s proposed project in Sydney’s Lower North Shore would see a vacated office add housing supply to the market, in particular for a growing demographic of over-55s.
According to the ABS, Australia’s population is ageing as a result of sustained low fertility and increasing life expectancy.
An independent market assessment commissioned by Realside found that 30 per cent of the project’s catchment is currently aged over 55.
The report also found that Greenwich and the Lower North Shore were suited to equity-rich ‘right-sizers’ and ‘downsizers’, with 69.7 per cent of residents aged 65 and over being self-funded retirees, compared to 45.6 per cent across Greater Sydney.
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Nearby 154 Pacific Hwy, Greenwich is another office block listed for sale.
“It supports a rapidly growing demographic with clear, unmet needs, frees up much-needed family homes for younger households and delivers huge environmental benefits through carbon savings and reduced construction impact,” Ms Rudd said of the project.
“At the same time we strengthen the local community by enabling ageing in place and alleviate housing supply pressures with fast, efficient development builds compared to completely new builds.
“There are too many upsides to ignore.”
The proposed office transformation would offer a mix of one, two and three-bedroom residences with generous floorplans, expansive indoor-outdoor living, large bedrooms, and sweeping views of Sydney Harbour and surrounding areas, according to Realside.
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Inside the offices at 170 Pacific Hwy, which could soon become apartments.
Ms Rudd said the project would be designed to meet demand for those who resisted the aged care model.
“Our commitment is to longevity of buildings, of community connection, and of environmental outcomes,” she said.
“This is why demand for contemporary, independent living for active, engaged over-55s continues to outpace the aged care model.”
According to Realside, the decision to reuse the building saves 1.2m kg of carbon, a 30 per cent reduction of the embodied carbon of a new build.
The proposal is currently under the assessment of the Sydney North Planning Panel.
