The Star: Casino group’s new $1b hotel plan for Pyrmont
After having its Ritz-Carlton proposal sensationally rejected a year ago, The Star is back with another plan to invest $1b in Pyrmont with two new towers, doubling its original idea for the area.
NSW
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The Star entertainment group has proposed a new two-tower, six-star hotel strategy for the Pyrmont peninsula, which would see a $1 billion investment into the NSW economy.
The new pitch, which has seen the casino giant go back to the drawing board, comes a year after the group was sensationally knocked back by the trouble-prone independent planning commission in its bid to build a 237m six-star Ritz Carlton hotel.
The group now hopes that the need for investment in the COVID economy, a new Pyrmont planning strategy and revised tower heights will put the bid in a better position to succeed.
The Pyrmont planning strategy was comprehensively reviewed after business outcry over the IPC’s rejection of such a massive development, with Premier Gladys Berejiiklian declaring the peninsula was open for business.
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“We have listened, adapted our thinking and revised our previous proposal,” the Star submission to the new Pyrmont Place Strategy reads.
“Two hotels, in two towers, generating jobs and turbo charging the tourism industry. We believe this to be a compelling step forward for Pyrmont, built on the back of an inclusive and transparent NSW Government process.”
The new proposal would double the original plan’s investment from $500m to $1 billion.
The Star is pitching one tower on the northern section of the Star Sydney site at 110 meters and one tower to the south of the Star Sydney site at 180 metres.
The northern 110m tower would be a six star hotel development with a signature restaurant, other food and beverage offerings and world-class resort amenities.
The southern 180m site would include retail, plus a restaurant and bars in the podium, and a hotel and apartments in the tower.
The 110m northern tower proposal goes above the height limit recommended for that site in the government’s draft Pyrmont Place Strategy - it suggests a development at the northern end of the Star site should be limited to 60m.
However, the Star’s submission is that a height of 110 meters would be required to ensure a hotel of six star standard.
The northern tower proposal is on the same site where the Ritz Carlton was knocked back.
It is now hotel-only, and would be an almost identical height to the four 106m chimney stacks which once rose from the site when it was a power station.
The Star believes the hotel-only element will be a compelling reason for the government to approve the development after the apartments were raised as a problem in the last submission.
In a statement, Planning Minister Rob Stokes said: “We’re delighted that The Star has engaged so positively with the draft plan. They’ve come up with some creative ideas that will be thoroughly considered with all the other submissions about how we can make Pyrmont an even better place to power us out of the pandemic.
“I made clear in July that Pyrmont has the potential to be a 24/7 destination for locals and visitors with the right development in the right places, and our draft plan sets out how we propose to achieve this.
“Pyrmont is more than a village – it’s vital part of our global city and will play a key role in bolstering the city’s night-time economy.
“The planning system is a key driver in our economic recovery to COVID-19 – in six months we have determined 90 projects worth $25 billion that have created 50,000 jobs. I’d say we are already doing our bit,” Mr Stokes said.
A spokesman for the Star said the new proposal also aligned with the government’s strategy to kick start the night time economy.
“The impact of COVID-19 on organisations and individuals has been significant. It’s imperative an economic recovery is now prioritised and accelerated,” the spokesman said.
“Driving jobs is key. Our two-towers, two-hotels master plan, with restaurants and resort amenities, will create not only construction roles but ongoing fulltime employment in the tourism and hospitality sector.”
“This is the perfect time for our twin hotels proposal, and a potential investment of $1 billion proves our commitment to helping Sydney get back on its feet.”
More than 130 submissions were received on the draft Pyrmont Place Strategy. All submissions will be made publicly available online next week.