North Sydney CBD transforming with multi-billion investment in construction
WILL a $3 billion investment in new residential and commercial developments transform North Sydney from an after-work dead zone into a thriving CBD hub?
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CAN North Sydney shake off its ghost town image?
The suburb’s CBD thrives during office hours but once the workers log off the streets become a shadow of their daytime selves.
The busy cafes and shops mostly shutter up for the night and a handful of venues keep their lights on.
Things could change as the area is being transformed thanks to a boom in developments, council streetscape works and the anticipated arrival of the new cross-city rail link, Sydney Metro.
New apartment blocks are bringing extra residents into the area with close to 2000 units approved and North Sydney Council’s city planning expert Joseph Hill is waiting to see if this perfect storm of development will change the atmosphere.
“My take is if we can’t shake it off doing what we’ve done in terms of releasing development it’s going to be very difficult to shake off,” he said.
“If it’s going to shake it off it’s going to do it now because there’s a lot of residential and commercial properties delivering more people to the area.
“The ingredients are all in.”
Mr Hill, director of the council’s city strategy division, started planning the current wave of construction in 2005 in a bid to bring more development to the CBD. The council pinpointed areas where new buildings could go and the construction giants started to open their wallets.
“The development industry said ‘Yes we like what we see’ with residential,” he said.
“They did it in pretty quick time.”
The investment is worth between $2.5-$3 billion and has seen 12 residential and commercial towers completed in the past five years.
Five towers are currently under construction and there another four waiting to break ground having secured DA approval.
Last year the skyline changed with the opening of the Meriton apartment building and a commercial tower at 177 Pacific Hwy, the new home of Vodafone. And there is plenty in store for this year and the years ahead.
One of the most exciting developments is the planned 39 storey tower called 1 Denison St. It would be the tallest skyscraper in North Sydney and the key tenant is tipped to be Channel Nine, with a fishbowl-style studio that could become a tourist attraction.
“It’s very exciting indeed,” Mr Hill said.
A trend has also seen ageing towers being knocked down to make way for plush and modern residential blocks. The Miller will be constructed on the site of an office block and one-bedroom units were selling off the plans at close to $1 million. It is due to welcome residents next year.
To complement the developments the council has been investing in the area’s image. Its Happiness Works Here project has brought regular entertainment into the CBD for office workers and the revitalisation of Brett Whiteley Place will bring a welcome upgrade of the space when it opens in the coming weeks.
The arrival of the Sydney Metro is also forecast to create even more demand for North Sydney.
The State Government is expected to demolish a strip of buildings along Miller St this year to make way for the new station called Victoria Cross.
Construction is expected to last until the end of 2022 at North Sydney and the multi-billion project will see a new rail link from Chatswood to Sydenham through the city.
“It will have a pretty significant impact,” Mr Hill said.
“It will create even more demand because North Sydney will become even more accessible.”
INFINITY POOL
A spectacular new infinity pool is making a splash in North Sydney.
The rooftop pool opened this month on top of a new residential tower called Skye by Crown Group.
And Ben Reid and Emma Takahashi, who recently moved into the $200 million building, were thrilled to be among the first to check it out.
The pool is perched 20 storeys above street level and offers Instagrammable views of Sydney Harbour and the lower north shore.
“It is rare to find a wet-edge ‘infinity’ pool like this in a residential apartment building. Rooftop pools of this calibre are usually only found in top international hotels,” said Crown CEO Iwan Sunito.
“The pool has already proven popular with residents and I’m pleased our residents are able to enjoy it for summer.”
The pool holds 168,000 litres of water and took three months to build. It was inspired by luxury resort hotels.
Construction of the building finished towards the end of last year and all the 242 apartments are now sold.
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