The NSW government has fast-tracked the approval of a new waterfront residential precinct at Honeysuckle in Newcastle.
Miller Property, which snapped up the 45 Honeysuckle Drive site from the state government for $16 million last year, will now move ahead with plans to construct 110 apartments across three waterfront buildings.
The residential development will sit between what will be a landscaped Cottage Creek and Doma Group's Huntington waterfront apartments which is currently under construction.
The 5,600sq m harbourfront precinct, dubbed Horizon on the Harbour, which will also feature common garden areas, an on-site concierge and ground-floor commercial tenancies.
The development, one of 24 projects to be fast-tracked as part of the state governments second round of assessments, is tipped to create 540 jobs during construction.
NSW planning minister Rob Stokes said construction on the project would start in the next three months and would be scheduled for completion in late 2022.
“This approval demonstrates the government’s commitment to the redevelopment of Honeysuckle into a vibrant waterfront precinct with more jobs, homes and public spaces for the community to enjoy,” Stokes said.
Miller Group will partner for a second time with Canberra-based construction company Bloc, which also built the $130 million Verve residences on King Street, a 197 apartment development which topped out last year.
Newcastle, currently the seventh largest city in Australia, has transformed rapidly over recent years into a service-based economy centred on tourism and education services following the closure of the BHP steelworks two decades ago.
The University of Newcastle is pressing ahead with plans across its two hectare site in Honeysuckle, which will see the construction of seven buildings as part of a staged development over the next 10 years.
As part of the $1.4 billion revival of the Newcastle city centre a 106-room QT hotel is also under way.
The $700 million development by Iris Capital will place the hotel in the 111-year-old former David Jones building on Hunter Mall in Newcastle's East End.
Opposite Miller's Honeysuckle development, the Central Coast Development Corporation which holds a 20,000sq m parcel of land, also has plans for a future development.
Meanwhile, developer Doma Group plans to resume work on its second Honeysuckle waterfront apartment complex Huntington next month after pausing construction late last year.