24 Mar 14
Anyone who lives in Wollongong will be aware of GPT’s expansion of the Wollongong Central Shopping Centre, at a cost of $200 million. However, this is only the beginning of the revitalisation for Wollongong’s city centre. Recent reports suggest that developers are planning to invest more than a billion dollars in developing the area between Wollongong Hospital, the coast and Flinders Street over the next few years. Projects include the Bass and Flinders Gateway Project, the Oxford Tavern, the former Dwyers site, former Dairy Farmers Factory site (Vantage Apartments) and a new public and private medical precinct. To read the Illawarra Mercury article by Kate McIlwain about the plans for Wollongong’s redevelopment, click here.
The new developments will enhance the city’s design and cultural scene and should attract around 2500 new residents to the CBD. This in turn will generate a need for more shops, facilities and entertainment options, so creating additional economic opportunities in the city. The new residential developments will also meet the growing demand for inner city housing, as young couples and people downsizing make the “lifestyle choice” to live close to the CBD and the beach.