Property Council identifies $1.1 billion of projects
The Hunter Chapter of the Property Council of Australia has identified $1.1 billion of urban renewal projects in the CBD since the release of the Newcastle Urban Renewal Strategy in December 2012.
The changing nature of life in Newcastle can be clearly seen by the fact that 1,572 apartments have been constructed or approved for development with a combined value of $866 million.
The Property Council attributed the recent change in investor sentiment as largely due to greater certainty in policy from the NSW Government, both in the release of the Newcastle Urban Renewal Strategy and through the continued support for the renewal of the city.
Click here to view a map that indicates the projects identified by the Property Council. The $1.1 billion figure is considered to be conservative as the map does not include every single project.