Vicinity Centres and Challenger have unveiled their long-term vision for its 11-hectare site in the heart of Bankstown CBD which includes Bankstown Central and could see up to 8,400 workers, 3,500 residents and 1,800 students onsite when the final stage of the development is completed in 2050, with commercial offices, serviced apartments, student accommodation, childcare facilities and public open and landscaped green spaces also forming part of the owners’ vision.
Work on the first two stages, which will cost $222 million, could begin next year and include a seven-level and an eight-level commercial commercial office building, the new ‘Eat Street’, repositioning the existing bus interchange between The Mall and North Terrace closer to the Bankstown train and future metro station and the centre’s fresh food precinct, a new basement carpark for more than 320 cars and close to half a hectare of new landscaped public open space including a garden boulevard and courtyard overlooking Jacobs Street.
Vicinity’s Chief Development Officer Carolyn Viney said the completed vision would see 300,000 square metres of new, modern buildings added to Bankstown Central’s existing footprint across 16 development sites, with staging aligned to market demand.
“Our vision embraces growing consumer preferences for hyper-local living and a desire to live, work and play close to home,” she said.
“We know our centre is a community and employment hub and these projects play a significant role in supporting ongoing and future employment.”
When the development applications are approved by the council, it is anticipated that construction and fit out would take two years.