Sydney’s CBD is set to undergo major transformation as plans for a mixed-use residential and commercial development above Pitt Street metro station shifts into the next stage.
Sydney Metro submitted two separate development applications above the north and south train station entrances to the Pitt Street Metro Station, located on the corner of Pitt and Bathurst streets.
The development process has now moved into the community consultation stage.
Developer heavyweights have been shortlisted for the major project touted to revitalise the heart of Sydney’s city, with shortlisted groups including Grocon, Lendlease and Brookfield Properties.
The north site development proposes a 43-storey mixed use tower which could comprise up to 1,500sq m of office space, up to 300 apartments or up to 200 hotel rooms.
The Pitt Street South concept proposes a maximum 35-storey height building, which will integrate with the metro station below, and include up to 16,250sq m of office space, or up to 159 residential apartments.
Increasing rates of urbanisation and government’s growing focus on public transport decentralisation have created a rising trend in Transit Oriented Developments (TODs), said to create vibrant, walkable communities around major transport nodes.
Earlier this year, Brisbane-based property developer Geon Property was appointed to transform Brisbane’s Albion train station into an integrated mixed-use precinct.
The revitalisation process will transform the Albion 3.5-hectare area and has an estimated $750 million price tag.
Sydney’s Pitt Street integrated station development, also known as over station developments, was identified as a key location receiving planning approval in January 2017.
Sydney Metro, said to be the largest urban rail project in Australian history, aims to deliver 31 metro stations and 66 kilometres of new metro rail as it services Sydney’s growing population expected to exceed six-million by 2036.
The concept application for the Pitt Street South Over Station Development is on public exhibition until 12 September.