Core Insights - Residents in North Strathfield, Sydney, are negotiating a joint sale of their properties, potentially exceeding AUD 20 million [1][3] - The properties, totaling 3,564 square meters, are positioned to become millionaires if the sale is successful [3] - The area has undergone rezoning as part of New South Wales' 2023 Transit-Oriented Development (TOD) initiative, aimed at providing much-needed housing around transport hubs [3][5] Summary by Sections - **Property Sale Negotiations** - Six homeowners are in discussions to sell their properties collectively, with offers already received and negotiations in the second round [1][3] - The properties are expected to yield significant financial returns for the homeowners involved [1] - **Development Context** - The rezoning will take effect in November 2024, allowing for mixed-use developments, including low to high-rise residential and commercial spaces [5] - Strathfield is part of the Homebush area identified for accelerated development under the TOD plan [5] - **Future Development Timeline** - If the sale is finalized, it is anticipated that the development process will take 12 to 24 months to complete, allowing homeowners time to relocate and developers to submit applications [5] - **Additional Property Negotiations** - Murphy and Pirrottina are also negotiating the sale of a 9,169 square meter site with 24 residential properties, with 16 owners already expressing interest in selling [7] - This group of owners had previously considered selling about a decade ago, prior to the rezoning [7]