A landmark $1.6 billion Honeysuckle redevelopment has been hailed as an investment to reshape the city.
The final piece of public land on the Newcastle foreshore, encompassing about three hectares of water frontage, will transform the precinct into a luxury hotspot, as well as delivering 1000 homes, builder DOMA Group revealed this week.
The mixed-use Honeysuckle HQ will include a a luxury hotel, and a conference centre on the western edge of the waterfront.
Stephen Crowe, the Property Council Hunter and Central Coast regional director, lauded the project as a milestone on Wednesday, and the crown topping the years-long revitalisation of the city centre.
"This flagship project is truly game-changing for Honeysuckle, Wickham and the west end," he said.
The development is expected to generate about 4000 jobs in long-term forecasts, driving an economic boost for the city as well as boosting the region's housing supply.
"Honeysuckle has long been identified as a critical site, and this next stage will help make the city a destination for residents and visitors alike. It shows what can be achieved when government and industry work together," Mr Crowe said.
Business Hunter CEO Bob Hawes described the ambitious and sprawling development, expected to take 15 years to complete, as a "bold plan" and a sign of the region's economic growth and maturity.
"The sort of development under way today was unimaginable to most even 10 years ago, but we are now seeing the fruits of a successful urban renewal strategy to shift the city's CBD west and incorporate high-density, mixed-use development into the inner city," he said.
"This bold plan represents a great leap forward, not just for Honeysuckle but for Newcastle as the regional capital."
The project, to be delivered in six stages over the next 15 years, will add 1000 high-density houses to the city's supply, with 180 hotel rooms and a 500-seat conference centre, with 11,000 square metres of public space.
"Newcastle has rapidly strengthened its position as a destination in its own right," Mr Hawes said.
"The addition of a hotel and conference centre further enhances the city's capacity to attract both business and leisure visitors, creating new opportunities across the wider economy."
The development would undoubtedly face challenges, he conceded, but he was optimistic of its prospects.
"There are, of course, challenges associated with a project of this size, but there will be opportunity for these to be addressed through the State Significant Development assessment process," he said.
Minister for the Hunter Yasmin Catley similarly celebrated the project's ambition, with state Planning Minister Paul Scully, the city's local representatives.
"This is exactly the kind of project the Hunter deserves - ambitious, practical and built around what makes Newcastle great: the harbour, the heritage and the people," Ms Catley said, describing the project as the final piece in the precinct's shift from industrial to waterfront prize.
Mr Scully said the undertaking backed in the state's promise of delivering more homes.
The project is expected to link with the city's public transport to connect the Honeysuckle precinct to the region.
Newcastle MP Tim Crakanthorp, in also welcoming the project this week, singled out the integration of the historic Wickham School of the Arts building as a distinct win.
"This now means that it will be conserved in perpetuity, a wonderful outcome for our local community," he said.
"I am proud to be preserving our past while stepping into Newcastle's future with new homes, new jobs, and new energy on our harbourfront."
Mr Crowe, who was appointed to his position with the Property Council in March, said the project highlighted the role that the Hunter and Central Coast Development Corporation in driving the city's growth.
"Our Budget submissions have consistently called for planning certainty, enabling infrastructure and reforms that remove barriers to delivering projects at scale. Developments like this rely on the confidence for industry to invest over the long term," he said.
"The focus now must be on building a steady pipeline of housing and employment opportunities right across the Hunter."
"The region can't deliver its full potential if we separate housing from jobs - projects like this show how to do both together."
