King Street is Looking Good

Filed under Cityscape, News ~ by Press on  3 Nov 2019

Wests $160 million King Street development.

Wests proposed development at former HDWB workshops, adjacent to Wests City in King Street

A new $160 million development by the Wests Group Australia is the latest example that confidence in the city centre is at an all-time high, with three other multi-million dollar projects also submitted for approval just in October.

The Wests Group’s development at 309 King Street includes two 14 storey mixed use buildings consisting of a 144 bed seniors aged care facility, 82 seniors independent living units and 166 general residential apartments, along with ground floor cafes, restaurants and a medical facility with underground parking for 286 cars.

The pedestrian laneway between the development and the existing Wests City building (NEX) would include a memorial to the 1989 Newcastle earthquake victims.

More than $365 million in new development has been lodged with the City of Newcastle during the past three months – a record for investment in the city.

City of Newcastle Lord Mayor Nuatali Nelmes said the increase in investment was yet more evidence of the private sector’s confidence in the city.

The latest influx of investment involves formerly underutilised sites now earmarked for development.

In addition to the $18 million restoration of the former David Jones building to a hotel, work will officially start Monday on the conversion of the Roundhouse into the city’s first five-star hotel in a development estimated at $24 million,” Cr Nelmes said. 

Newcastle’s transformation is truly underway. It’s fantastic that our city centre will soon be home to two five-star hotels.

Our city has seen a 60 per cent increase in visitor numbers and expenditure in the past five years which again positions Newcastle as a destination city that continues to grow and improve.”

Last week a development application from Iris Capital to convert the former David Jones building on Hunter Street to a hotel was also lodged.

Century Venues have also proposed a $11.5 million restoration of Newcastle’s iconic Victoria Theatre, immediately opposite Iris Capital’s proposed five-star hotel and roof top bar.

The 2018 calendar year was a record year for City of Newcastle, as the total value of building approvals topped $1.2 billion with the 2019 year on track to rival this figure.

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