Mirvac has broken ground on its 526-unit St. Leonards Square mixed-use project – part of the larger 472-520 Pacific Highway complex – with the company’s CEO stating that the success of the project hangs on the availability of public transport.
Mirvac CEO and Managing Director Susan Lloyd-Hurwitz, together with NSW Transport and Infrastructure Minister Andrew Constance, credited the coming Sydney Metro as critical to housing growth and business opportunity. The groundbreaking ceremony flags a two-year construction timetable.
Lloyd-Hurwitz said many purchasers at St. Leonards Square – which will feature 526 apartments, and around 7,500 square meters of commercial and ground floor retail space for cafés and a supermarket across two towers – had been motivated by the prospect of a new Sydney Metro station at Crow’s Nest, located just 150 meters away, and expected to be operational from 2024.
In her speech at the groundbreaking ceremony, Lloyd-Hurwitz touched on affordability before quickly diverting instead to livability. “I have spoken a lot lately about affordability. It is the hot-button issue of the moment, and one on which we are working collaboratively with all levels of government to help make a difference. But there’s another quality that we at Mirvac strive to achieve in every project we undertake – livability. As Sydney’s population grows, and the way we live and work changes, our quality of life is increasingly determined by the way we move about our city.”
“The success of this urban renewal process is dependent on good public transport, and while there is an existing rail station at St. Leonards that links to Chatswood and the CBD, the arrival of the Sydney Metro with the Crow’s Nest station not only meets future demand, but elevates mobility and accessibility to a new level.”
Lloyd-Hurwitz added that the market response to the new development was very pleasing, with over 70 percent of the two towers sold on the first day of their respective launches in 2016, and total sales currently exceeding 90 percent.
The project is scheduled for completion in the second half of 2019.
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