THE NSW Government has approved a new integrated transport, dining and retail hub to accommodate a new station at Martin Place on the Sydney Metro line.
Located between Castlereagh and Elizabeth Streets, the State Significant Development application from Macquarie Corporate Holdings Pty Ltd will have two commercial buildings integrated with the previously-approved Martin Place metro station.
The Department of Planning and Environment's Deputy Secretary for Planning Services, Marcus Ray, said the integrated station project would provide a new transport hub and generate more than 10,000 new jobs in the Sydney CBD.
"Martin Place's new integrated transport hub will provide a strategic link on the rail network while also providing new shops, cafes, restaurants and offices," Mr Ray said.
"The State significant development proposal is estimated to have a capital investment value of $637 million. It will also create 8,500 new employment opportunities and 1,900 construction jobs."
According to the Department, the Heritage Council NSW and Office of the Government Architect provided expert advice throughout the assessment process, and will continue to play a role throughout the detailed design of the buildings.
"This development in the Martin Place station precinct highlights the catalytic role played by strategic government investment in a new metro line and in the future success of Sydney as a global city," said Government Architect of NSW, Peter Poulet.
The application was publicly exhibited in June 2017 and received 17 submissions – 10 from public authorities and seven from the public. Of the public submissions, three supported the proposal, three objected to it and one raised general comments.
Issues raised during the exhibition period included consistency with the character of the area as well as solar access, wind impacts, heritage, visual impacts and the size of the buildings.
The Department said its assessment carefully considered the issues raised in submissions and recommended that the proposal be supported subject to strict conditions. The conditions relate to sun access to Hyde Park and Martin Place, wind impacts, detailed building design guidelines, environmental performance and design excellence.
In determining the application, the Minister for Planning voluntarily sought independent advice from the Planning Assessment Commission, now known as the Independent Planning Commission.
The next step in the development process is for the Applicant to seek approval of the detailed design of both buildings through 'Stage 2' State Significant Development applications. Once submitted, these applications will once again be exhibited and assessed by the Department.