Monthly Sydney Property Insights

Plans for Sydney’s Green Square Town Centre (GSTC) have been unveiled by Crown Group. According to the Sydney Morning Herald, the construction of 10 key buildings ranging from 3 to 28 storeys in the planned GSTC will commence by the end of 2014.

The first building, a 20-storey building designed by Koichi Takada Architects, will feature 416 apartments and 5,000 square metres of retail and restaurant space. Approval for the idiosyncratic building will be sought by May 2014.

According to Crown Group’s chief executive Iwan Sunito, the building is expected to form the focal point of the GSTC. Construction of the tower will began in early 2015 while work on most of the other buildings will start by Christmas this year. The entire project should be completed by 2030.

The GSTC was first canvassed as an urban renewal project in 1995, but as Lord Mayor Clover Moore noted, the project has been more challenging to launch than Barangaroo. The town centre is predicted to bring 8,500 new jobs to the area while the larger precinct will be able to house 40,000 people. The City of Sydney will be investing $440 million over the coming decade to improve infrastructure with better roads, public facilities, and recreational amenities.



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