It is understood to be the largest ever residential development by a Chinese mainland group in Australia.
Australia YMCI has engaged designers Woods Bagot for the concept plan for the Carter Street site.
Proposed plans indicate some 3500 apartments will be spread across 12 residential towers, accompanied by 3700 car spaces, on a 19-hectare site.
Three zones of residential development will surround the park which will include pedestrian footpaths, circulation areas, amenities and pedestrian linkages.
One zone will include buildings with podiums of 2-3 storeys and towers with 6-11 storeys. Another zone will have a cluster of 13-storey buildings. The final zone will have more of a commercial and retail character
Work could start by mid next year. Planning documents put the project’s capital investment value at almost $1.5 billion and, when completed, the project would be worth closer to $2.5 billion.
