Another section of Hunter Street is poised for transformation as land owners sell off redevelopment sites.
The former Royal Theatre and an adjoining building beside Cottage Creek are up for sale, and a developer has bought a third building next door pending council development approval.
The art deco Royal building is listed on the State Heritage Register, meaning redevelopment of that site could be limited. But the two adjoining buildings could be demolished then redeveloped up to the block's 60-metre height limit.
The Newcastle Herald understands a developer has bought the easternmost of the three buildings, next door to the vacant Empire Hotel site, and lodged a development application.
The 1939 Royal building, which was known as the Hoyts Royal Twin cinema during the 1980s, backs on to Cottage Creek and the Verve apartment towers. It is owned by Hillsong church, which has moved to the theatre at St Philip's Christian College at Waratah.
"We are offering them separately or in one line," selling agent Tim Fox said of the two Hillsong buildings.
"We've had interest from owner-occupiers looking to repurpose the theatre for different uses to developers looking at what can be done with the combined site or with an individual acquisition of the non-theatre site."
The former Empire site on the corner of Hunter and Steel streets has been vacant since the hotel was demolished 10 years ago.
The land has been the subject of a series of failed redevelopment projects, the latest in 2019 when developer Warwick Miller refunded off-the-plan buyers' deposits after the property market dipped.
But apartment prices have jumped 11 per cent in the past year, prompting renewed interest in inner-city redevelopment sites.
Meanwhile, the NSW government will kick in $3 million to help upgrade Newcastle Ocean Baths under an incentive program designed to speed up development application processing times.
All five Lower Hunter councils will share equally in $15 million from the government's $250 million Public Spaces Legacy Program.
Cessnock City Council will receive $3 million to build a five-kilometre walking and cycling path from the edge of town to St Philip's Christian College at Nulkaba.
Lake Macquarie City Council will use its allocation to improve access to Swansea Channel, including a 230-metre boardwalk.
Maitland will spend $3 million on Harold Gregson Park to allow for overnight motorhome parking, paths, barbecue areas, new trees and a "youth space".
Port Stephens Council has received $3 million for a shared path along the waterfront from Nelson Bay to Halifax Point, a Lemon Tree Passage town square and upgrades to William Street, Raymond Terrace.
Planning Minister Rob Stokes said the funding was contingent on councils meeting agreed targets on DA assessments.
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