The transformation has been evolving for a several decades in this part of the CBD virtually unknown except by people living and working locally.
The George and Charles-streets intersection on the eastern periphery of the CBD, formerly a mix of light industrial factories and low-level buildings employed not many more than 100 or so workers in the 1970-1990 period.
Today, the cross streets are being transformed into a lively hub of activity with an estimated 5,000 people residing or working in the area.
Currently the intersection and the immediate area features high-rise office towers on two corners, a multi-level serviced apartments complex on the third and residential building on the fourth, with professional and commercial offices,government agencies, cafes, restaurants, take-away outlets in the vicinity.
The relocation of one of the city’s popular and established restaurants, Courtney’s Brasserie, adds to the transformation of the precinct.
Scenes for a movie and a TV series, plus TV car commercials have been shot nearby – and the precinct has two heritage houses to boast of – one, the first home of the King’s School.
The NSW Police has a strong presence in the area with its headquarters along Charles Street and Lend Lease has taken office space around the corner in Phillip Street
The transformation of this economic and employment hub will continue apace .with approximately $200 million invested in commercial, hospitality and residential construction.
Parramatta City Council has received two development applications for a $35.2 million expansion and rejuvenation of the Commonwealth Bank of Australia’s office tower I at 150 George Street.
The tower on the north-west corner of George and Charles streets includes a 22-level building, of 20,496 square metres and a six-level car park accommodating 483 vehicles.
The major proposal of $25.4 million includes the extension of levels 8 to 10 by means of the construction of a 3-level building in the air space over the parking station.
The new 3582-square-metre building, which is structurally independent of the tower, will be joined to it by an atrium.
“The proposal will create additional employment opportunities in an area which is experiencing rapid transformation in terms of commercial character,” according to the Mckenzie Group which prepared the statement of environmental effects report.
The second proposal seeks to renew the façade and the extension and reconfiguration of the lobby area of the 22-storey tower, which includes a café for use by staff and the public, at a cost of $9.8 million.
Three major projects – all residential towers, one of which is under construction – are also located in the area, which includes residential units, serviced apartments, cafes, restaurants, a gym and commercial and professional space.
A 19-storey tower comprising 264 apartments is under construction, at 109-113 George Street and, opposite, an archaeological dig is underway on a vacant site, at 184-188 George Street, for a 12-storey building comprising 84 apartments.
Council has received a DA for two, 13-storey towers, comprising 146 additional apartments in the Meriton Serviced Apartments complex, at 180 George Street.
These four projects represent approximately $200 million in construction costs.
An application was approved in October 2011 for the redevelopment of the Cumberland Newspapers property, some 400 metres east of the intersection, which includes a commercial building facing George Street and a commercial and residential building, at 142 Macquarie Street, at an anticipated cost of $51.9 million.
The property has since been sold to Landmark East, which is associated with Parramatta-based Dyldam Developments.
