Mirvac and
Landcom have formalized an agreement with the NSW Government to develop the new $1.7 billion Green Square Town Centre mixed-used community in Sydney's inner south.
The development will include approximately 1,600 residential units, 12,000 square metres of retail space and up to 48,000 square metres of A-Grade commercial space.
The Town Centre is part of the larger Green Square urban redevelopment precinct, a major New South Wales Government sponsored initiative.
“Twenty years after the town centre was first announced, it is exciting that we have an agreement in place for what is one of Australia’s biggest urban renewal sites,” Minister for Planning and Infrastructure Brad Hazzard said.
Mark Gray, Managing Director Leighton Properties said the milestone marked the next steps for Australia’s largest urban development.
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“We’re proud to be working alongside Landcom and Mirvac to bring the Town Centre to life. The signing of today’s Project Agreement demonstrates we’re ready to push forward and begin work on the site.
“Our combined aim is to create a precinct that will become the centerpiece of this new commercial, residential and retail hub,” said Mr Gray.
“We’re expecting the Green Square precinct to create around 7,000 jobs, provide new homes for around 5,500 people and generate approximately $3.2 billion to the wider economy both during and after construction,” said Mr Gray.
“Our combined aim is to create a precinct that will become the centerpiece of this new commercial, residential and retail hub,” said Mr Gray.
The Green Square Town Centre has been designed to embody an urban village concept. It will interlink public domains, from green, open spaces to piazzas. The design aims to bring people together and promote easy interaction.
It will also include a wide range of public spaces for community events, outdoor activities and cultural celebrations.
Cycleways and walkways will also be installed to make moving around easy. These details will all add to the future lifestyle on offer at the new Green Square Town Centre.
Green Square Town Centre is expected to be delivered within the next 10 years with construction to commence in the second half of 2012.
