Wednesday, April 24, 2024

NSW signs $2b Mirvac deal for Darling Harbour redevelopment

The redevelopment of Harbourside Shopping Centre at Sydney’s Darling Harbour is a step closer with the NSW Government today announcing it has entered into an agreement with Mirvac.

Minister for Enterprise, Investment and Trade, Alister Henskens said the $2 billion redevelopment is expected to support more than 2,000 construction jobs and create nearly 4,500 further jobs on completion of the retail, residential, commercial workplace and entertainment precinct.

“This project will create an iconic new precinct in the heart of Sydney that will boost our economy, create jobs and strengthen our visitor economy,” Mr Henskens said.

“The NSW Government has achieved another significant milestone entering into an agreement with Mirvac to redevelop the site at no cost to taxpayers.”

Minister for Cities, Rob Stokes said Mirvac’s Harbourside development will complement the NSW Government’s efforts to transform Sydney’s waterfront.

“From Bays West to Circular Quay, we’re breathing new life into Sydney’s harbour foreshore to make it greener, more accessible and more beautiful,” Mr Stokes said.

“The project will deliver a hectare of precious public open space, include a 3,500sqm new park and a widening of the waterfront promenade.”

Mirvac CEO & Managing Director, Susan Lloyd-Hurwitz said demolition work was expected to start in January 2023.

“This project will reimagine the Darling Harbour waterfront and provides a critical missing piece of the Western Harbour rejuvenation that has been taking place since the completion of the ICC,” Ms Lloyd-Hurwitz said.

“This is another great example of the private sector partnering with the NSW Government to deliver an iconic redevelopment.”

The design, a collaboration between Snøhetta and Hassell Studio, was chosen from six entrants in an international design competition with a jury comprising representatives from the NSW Government Architect, Placemaking NSW, the City of Sydney and Mirvac.

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