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Mirvac told to shrink $708m tower plan for Harbourside Shopping Centre
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Property developer Mirvac has warned the Berejiklian government that a request to shrink the size of its proposed Harbourside Shopping Centre redevelopment would render the $708 million project financially unviable.
The Independent Planning Commission is assessing Mirvac’s unsolicited proposal to overhaul the 1980s shopping centre at Darling Harbour with new shops, offices, public space and a 42-storey residential tower.
Mirvac has been asked to make changes to its revised concept proposal to revamp the outdated shopping centre.
Converting empty offices into apartments is back on the agenda, with New South Wales chief economist Stephen Walters suggesting it could be a solution to revitalising a floundering city centre. There are murmurs from developers in other cities too.
However, leading design industry practitioners say the only Australian office buildings viable for conversion to residential flats were built before the 1980s.
Pradolinâs organisation has been using vacant buildings awaiting development approval as âpop upâ housing shelters, but he concedes that âif itâs an existing office building thatâs B- or C-grade, the highest and best use is still probably [an] office buildingâ.
âItâs a land grabâ: Residents protest Harbourside Shopping Centre plan
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Plans to transform Sydneyâs Harbourside Shopping Centre with a 42-storey tower have triggered anger from residents of nearby apartments, who say the complex will block their prized water views.
Mirvac has lodged plans, which are opposed by the City of Sydney, to demolish the 1980s Darling Harbour building and replace it with a new complex, including offices, shops and a 166-metre residential tower.
A design of the planned redevelopment of the Harbourside Shopping Centre included in the most recent concept proposal for the Darling Harbour site. The 166-metre tower is in the centre, while the existing Sofitel hotel is to the left.
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