Chinatown to grow two towers

A multi-million dollar development has begun construction near Chinatown which will supply residential, retail and commercial units to the district.

The two-tower project called The Quay will reach 16 and 17 storeys and cost an estimated $280 million. The mixed-use site at 61-79 Quay St will provide 270 apartments, four levels of basement parking, a retail level, offices and a supermarket.

A spokesperson for selling agent CBRE said the site is being cleared and construction is expected to begin in the second half of the year. The slated completion date for the towers, designed by CMK Architects, is early to mid 2014.

The City of Sydney confirmed the design was granted a 10 per cent increase in floor space in accordance with Clause 10 of the 2005 Local Environmental Plan. The Development Application stated: “the building appropriately addresses its context, fulfilling the objectives of the development standards and reinforcing the desirable natural and built features of the locality.”

The building manager of The Peak Apartments on Quay St, Vaughn de Vocht, said the retail development will benefit the street by increasing commercial competition in the area.

“This development will revitalise the whole area, rather than it being a backwater as it’s currently regarded, and make the area feel safer and more lively at night.”

He said The Quay complex is part of a broader development process in the Haymarket area. This includes the 16-storey, student accommodation Urbanest development on the Her Majesty’s theatre car park site, expansion of UTS and the new Ultimo Pedestrian Network linking Railway Square to the new Frank Gehry building and Powerhouse Museum, and changes to Darling Harbour South for the new Convention & Entertainment Centre.

Mr de Vocht was wary of potential traffic management difficulties arising from the development.

“At the moment Quay St is very constricted where it connects to Broadway at Railway Square. That’s a one-way entrance from George St into Quay St.

“That is a little bit of a bottle-neck already, and we already get bottle-necks of traffic coming down to our northern end of Quay St because we’ve got Market City’s public parking and then we’ve also got everyone coming here for Paddy’s Market.”

“It is very hard to anticipate how that traffic management will work,” he added.