Nationwide News Pty Ltd gained approval in October 2012 for a staged redevelopment involving a six- storey retail/commercial building on the George Street frontage of the site and a 15-storey residential/commercial building on Macquarie Street
Council received a planning proposal application, in May 2014 from Dyldam on behalf of the landowner, Landmark East Pty Ltd
The application sought to increase the maximum building height from 54 metres to 157 metres and the maximum floor space ratio from 4:1 to 7:1.
With the design excellence bonus of 15 per cent the height could potentially increase to 180m and the FSR to 8:1. 10, the application said.
An indicative development scheme comprises a 60-storey tower on the 1.25-hectare site, a-35 storey tower, a 25-storey tower and a public square.
The site occupies almost 80 per cent of the street block bounded by Macquarie Street, Harris Street, George Street and Argus Lane.
The owners of the Albion Hotel, which occupies 0.35 hectares of the block, are in the preliminary stages of preparing their own planning proposal.
Council has endorsed the proposal and will forward it to the Department of Planning and Environment for Gateway determination.
Council will forward also to the department a proposal near the Cumberland site to increase the maximum building height from 36 metres to 120 metres (approximately 12 to 38 storeys) on a project at 184-188 George Street.
Elsewhere in the city, council has approved a DA for alterations and additions to Cooper & Lybrand House, 75 George Street, in the CBD core including two additional levels of commercial floor space, at an estimated construction cost of $14.8 million.
