Darling improvements for Sydney

106Sydney’s iconic harbour will be revamped as part of a $1 billion-plus project.

The announcement was may on May 23 by New South Wales Premier Andrew Stoner and Planning Minister Pru Goward. The project will turn the southern side of the harbour into a “city neighbourhood”, dubbed Darling Square.

Approval has been granted for the construction of several buildings.

A 20-storey building that includes 227 student accommodation apartments, communal areas and a manager’s apartment has received approval. There will be 155 studio apartments and 72 cluster apartments, which are sure to appeal to the many individuals who choose the NSW capital to further their education.

Approval has also been awarded for the construction of three towers that will offer residential apartments, residential car-parking spaces and non-residential floor space. The towers are between eight and 40 storeys high.

Finally, a mixed-use development with over 22,000 square metres of commercial office space, 400 public car parks, 75 motorcycle spaces and ample ground-floor retail space is sure to add further vitality to this area of Sydney.

Homeowners living near Darling Harbour may see their properties climb in value, should the Darling Square project be successful.

“These projects will transform this part of inner Sydney into a vital and vibrant residential and business community within a few minutes’ walk of the CBD and the colourful and exciting attractions of Chinatown and Darling Harbour,” noted Mr Stoner.

“The new neighbourhood at the southern end of the Darling Harbour redevelopment site will create around 2,100 new jobs during construction, with spaces for new small businesses and ongoing employment opportunities for more than 2,000 people.”

Those thinking about buying or investing in Sydney property may wish to pay attention to the Darling Harbour area, as it gears up for massive revitalisation.

Earlier this month, the Urban Taskforce noted the importance of Sydney taking positive steps to remain a global city in decades to come.

“For Sydney to remain as Australia’s number one city we need to plan for doubling the height of our skyscrapers by 2050,” exclaimed Urban Taskforce Chief Executive Chris Johnson in a May 2 statement.

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