Mirvac $1.2bn Darling Harbour Tower Passes Key Milestone

Mirvac’s $1.2-billion redevelopment of Harbourside at Darling Harbour has reached a significant construction milestone, with the mixed-use tower now rising above level 20 and the project on track for completion in late 2027.

General manager of commercial development Andrew Tobin said the core structure was “well past halfway”, marking steady progress on what has been one of Sydney’s most complex urban renewal undertakings. 

The journey began in 2013 when Mirvac acquired the former Harbourside Shopping Centre, followed by a lengthy planning pathway, an international design competition, the demolition of the existing centre, and now full-scale construction.

Mirvac will launch the development’s next residential release this month, following a sales campaign in late 2024 that netted more than $700 million in apartment sales in a single weekend. 

The developer will now bring larger, premium homes to market, a response to the strong demand from Sydney-based families and downsizers who dominated early sales. 

▲ Construction of the residential tower structure is past the halfway mark as the placemaking project takes shape at Darling Harbour.

Tobin said inquiry levels for the upcoming release indicated the next stage would be similarly well received.

The project marks a major shift in the evolution of Darling Harbour. 

Harbourside was designed as a fully integrated mixed-use precinct incorporating retail, office space, new public domain and a revitalised waterfront. A major draw will be the new dining precinct, designed to rival Barangaroo.

A 3500sq m public rooftop park will anchor the upper levels of the podium, while a new laneway network and expanded promenade will link Pyrmont Bridge to the water’s edge. 

Mirvac has also committed to a 4000sq m conference and events centre, supported by business facilities intended to serve office tenants and the broader Pyrmont-Ultimo corridor.

▲ The mixed-use precinct combines retail, dining, office, conferencing, public realm, and residences in the tower above the groundscraper podium.

Tobin said the precinct was emerging at the heart of what he described as the “western Sydney Harbour transformation”, where more than $15 billion in public and private investment was reshaping the waterfront. 

He believes Harbourside will elevate Darling Harbour’s global profile, comparing the scale of change to major international urban waterfronts, such as Marina Bay Sands in Singapore. 

The development’s hospitality offering is now being curated, with Mirvac in discussions with several prominent restaurateurs expected to anchor the waterfront and elevated dining terraces. 

Tobin said the focus was on operators capable of delivering destination experiences while also supporting local, everyday use.

Design was led by Snøhetta and Hassell, whose winning proposal emphasised a “water to sky” narrative informed by Country and the natural sandstone formations of Sydney Harbour. 

Indigenous design advisory group Djinjama has been embedded in the process, shaping the project’s cultural narrative and material expression. 

Tobin said the complexity of integrating residential, commercial, retail and public realm programs into a single structure required close collaboration across design, engineering and government stakeholders.

Sustainability has also been a defining element in the development strategy. 

Harbourside is fully electric and targeting some of the highest environmental ratings available for mixed-use assets in Australia. 

▲ A rendering of an apartment within the development with views across Sydney.

The commercial component is aiming for 6-Star Green Star under the new Green Building Council of Australia performance standard, while retail and residential elements are targeting 5-Star ratings. 

Tobin said the approach was groundbreaking” in a retail-led environment, where electrification has only recently become viable at scale.

Greening is also central to the precinct’s identity. The site previously had about 20 cabbage palms; the redeveloped Harbourside will introduce more than 100,000 plants, a new tree canopy and extensive green roofs that will reshape the microclimate along the waterfront. 

Amenity on Level 5—including a wellness precinct, ice baths, a spa, sauna, indoor and outdoor pools and a full gym—was already proving a major drawcard for prospective purchasers, according to Tobin. 

With construction advancing and a new residential release imminent, Mirvac is now preparing for Harbourside’s next phase of market engagement. 

“This is a once-in-a-generation project for Darling Harbour,” he said. 

“We’re now well past the halfway point and bringing the precinct’s full vision into view.”