Parramatta City Council has entered into a Development Agreement with developer LIDIS to deliver a new riverside precinct overlooking Parramatta River.
With the master plan prepared by Johnson Pilton Walker, the $250 million development will include the Riverside Tower, a 41 storey apartment and retail tower with 37 floors dedicated to luxury units offering views across the parklands and riverfront, and the Discovery Centre, an adjacent council-owned visitor facility.
Also included is a conference centre with a capacity of up to 1000, entertainment facilities, six levels of basement car parking, as well as improved public domains and river foreshore area.
According to the City Council the 4,400sqm site, which will sit on the former Lennox street car park site next to the Lennox Bridge crossing Parramatta River, is being delivered to a ‘Design Excellence’ standard, and will create “many benefits for Parramatta’s community.”
“As Parramatta continues to expand, access to the river and surrounding foreshore will be critical to the city’s recreational and cultural future,” a statement by the Council said.
The development is the latest installment of Parramatta's $1 billion civil works and construction program, which seeks to unlock value and bring more jobs and residents to its CBD.
Other works currently underway include Crown Group’s $309 million residential tower, V by Crown, twin commercial towers by Johnson Pilton Walker, and one of the tallest structures in Australia, Aspire Tower by Grimshaw Architects.
Approximately 700 jobs will be created during the construction phase of Riverside Parramatta, which is expected to begin this year pending development approval. A public exhibition of the plans will be on display from 16 April at the Church St Information Centre, Parramatta.
Images: Daily Telegraph