LIDIS Plan $250m Riverside Tower Project In Parramatta


Property and private equity firm

LIDIS have announced plans for Riverside Tower – a new mixed-use riverfront precinct along the banks of the Parramatta River.

The $250 million project, a public-private partnership with Parramatta City Council (PCC), will offer 413 apartments and contemporary homes over 41 storeys, along with retail, entertainment and conference facilities.

LIDIS Executive Chairman Dennis Lidis said he is delighted to be working with PCC on what will be a landmark feature of western Sydney.

“It is an exciting opportunity to be working together with Council to achieve its vision of a world-class riverfront precinct in Parramatta. This is a unique site in the geographical heart of Sydney that will provide a new cultural and entertainment destination for everyone to enjoy,” he said.

The resulting tower will feature dedicated club floor featuring a lap pool, gym, spa and sauna facilities, an enclosed sun terrace with river views, terraced gardens with barbeque facilities, and lounge spaces.

[urbanRelatedPost][/urbanRelatedPost]Lord Mayor of Parramatta, Cr John Chedid said the proposed development involves major upgrades to more than 4,400sqm of public domain and foreshore land and new pedestrian links and cycle paths for Parramatta’s growing community.

“As Parramatta continues to expand, access to the river and surrounding foreshore will be critical to the city’s recreational and cultural future. We are pleased to be working with LIDIS and Dockside Group who share our vision of refocusing Parramatta’s CBD towards the river.”

“This project will transform the old Lennox Bridge car park site into a world-class riverfront precinct, creating more than 700 jobs during the construction phase and ongoing economic activity after the project’s completion.”

“The centrepiece of the Riverside Tower is the Discovery Centre which will replace the CBD’s existing Visitor and Heritage Centre and deliver a spectacular entertainment and dining experience that befits the geographical heart of Sydney,” Cr Chedid added.

The Council owned and managed Discovery Centre will provide new business opportunities for tourism operators and hospitality and accommodation providers, along with the adjoining conference and event centre.

Operated by Dockside Group, the conference and event centre is set to house the CBD’s largest function space with 1,000-guest capacity in its pillar-less ballroom.

Both the Discovery Centre and conference and event centre are registered with the Green Building Council of Australia.

Pending development approval, construction is expected to start this year.

Related Post: New Riverside Tower To Transform Parramatta Foreshore

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