New towers planned for Harbour Town

Capital Alliance Investment Group plans to construct two buildings, potentially including a hotel, above Harbour Town Shopping Centre.

The investment group last month held a consultation session to inform the community of its plans to seek an amendment to the existing Waterfront City Outline Development Plan.

Capital Alliance is seeking an amendment to allow construction of a 36-storey mixed-use development comprising residential apartments and a proposed 5-star hotel along with a 30-storey residential apartment building.

Subject to planning approval, construction of the first building is scheduled to begin between November 2016 and September 2017, with completion of both buildings due
in 2021.

The investment group secured the development rights for the site from Ashe Morgan, which had earlier secured the Harbour Town site, including undeveloped land parcels, from ING for $150 million.

Ashe Morgan’s plans for development of land parcels surrounding Harbour Town are yet to be confirmed.

However, the Sydney-based real estate investment group has previously told Docklands News that its first task would be the revitalisation of Harbour Town.