40-storey tower plan revealed for Kings Cross Station site revival
A $440 million plan for a new skyscraper at an iconic site could reshape the Sydney skyline. See the plans.
A $440 million high-rise plan could reshape the Sydney skyline, as a billion-dollar private equity firm reveal a vision for a 40-storey skyscraper in Potts Point.
Hospitality firm, Salter Brothers, earmarked plans for a new apartment and retail tower hub at 203-225 Victoria St, Potts Point - including close to 250 new homes - just metres from Kings Cross Station.
Planners for the project said the three buildings in the proposed precinct would surround a public plaza, and include “a mix of apartment types and a commitment to affordable housing”.
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By continuing you agree to our Terms and Privacy Policy.“It will activate the established Kings Cross precinct through new retail and public domain spaces, creating local employment through both construction and operation,” the planner said. “The proposal will assist in alleviating the pressure of the current housing affordability and crisis in NSW.”
Planners also argued the multimillion-dollar proposal would “facilitate the renewal of a significantly underutilised site at a critical location in Kings Cross”.
“In addition to being located directly above the Kings Cross Train Station and containing a station entry portal, the site is in close proximity to high-frequency bus services,” the planner said.
“The site is ... capable of delivering residential and retail ... with excellent public transport connections to the Sydney CBD and surrounding areas.”
The developers argued the proposal would also assist in lofty National Housing Accord targets of 18,900 new homes needed within the City of Sydney local government area.
The National Housing Accord set an ambitious task for NSW to deliver 377,000 new homes by July 2029, equating to an additional 25,000 new dwellings per year.
However, The National Housing Supply and Affordability Council warned NSW was set to miss that deadline by more than two years, with the state expected to reach the goal by March, 2032.
More than 2200 construction jobs were forecast as part of the major redevelopment of the inner-city site.
The state significant development is on exhibition with the NSW Planning Department until November 5.
