Residents on both sides of Sydney’s housing debate have found a common enemy: a $100 million James Packer-backed development proposal in Potts Point that seeks to demolish an old residential tower and replace it with new luxury apartments.

Developer Time and Place, which is backed by the billionaire businessman, is proposing to build a 13-storey tower on Macleay Street in the wealthy suburb, with 34 apartments and some retail on the ground floor and basement parking.

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