Newcastle to undergo multimillion-dollar development
Commercial property investment in Newcastle may become more attractive, with the city earmarked for ...
Commercial property investment in Newcastle may become more attractive, with the city earmarked for a multimillion-dollar urban renewal project.
The New South Wales government unveiled plans recently to revamp the regional centre to ensure it meets expected growth in the future and remains a vibrant destination.
Under the Newcastle Urban Renewal Strategy, the city will be revitalised to 21st century standards - boosting local business as a result.
Links between the CBD and waterfront will be improved, while significant upgrades will also be carried out on Wheeler Place and Hunter Street Mall.
"This is about urban renewal, this is about reuniting Newcastle with its waterfront, this is about making sure that we provide the incentive for business to come back into Newcastle," NSW planning minister Brad Hazzard said, ABC reports.
Transport around the city is also set to be improved, with the heavy rail line between Newcastle and Wickham due to be cut and the development of a new interchange and rapid bus system in the region.
The implementation of new planning controls will also encourage commercial and residential property projects in the area.