The Pitt Street Metro Station State Significant Development (SSD) has been approved by the NSW Government, which will see two new towers integrated with the new Metro station below the ground. Three companies have also been shortlisted for the works.
The Sydney Metro City and Southwest Project is currently under construction and will connect the existing North West Metro at Chatswood, under the Harbour into iconic CBD destinations including Martin Place, Barangaroo, Pitt Street and Central Station.
There will be two new buildings above Pitt Street Station:
A 43-storey building above the northern entry to the new Pitt Street metro station on Park Street between Pitt and Castlereagh streets. This building could become a commercial office tower or a mixed-use building that would include residential apartments, a hotel and commercial or retail space.
A 30-storey commercial or 35-storey residential building above the southern entry to the station near the corner of Bathurst and Pitt streets.
The tender process to build the new Pitt Street Station and the buildings above the station is ongoing.
Three groups have been shortlisted:
- Grocon (Pitt Street) Developments Pty Ltd
- Lendlease Development Pty Limited
- Brookfield Properties (Devco) Australia Pty Ltd.
The NSW Government expects to award the contract later in 2019.
The NSW Department of Planning and Environment has also made sure the development addresses priorities including solar access, public open space and nearby buildings and heritage considerations.
The approval of the Pitt Street integrated development creates an opportunity to combine construction time frames to have the new buildings ready open in line with Metro opening in 2024.
The project is estimated to have a capital investment value of up to $500 million. It will provide 1,800 longer term jobs and 1,500 construction jobs.