Leighton’s development partners are Landcom and Mirvac.
The Town Centre is part of the larger Green Square urban redevelopment precinct, a major initiative sponsored by the New South Wales Government.
At completion, the Green Square Town Centre will be a AU$1.7bn mixed-used community and will include approximately 1,600 residential units, 12,000m2 of retail space and up to 48,000m2 of commercial space.
Leighton Properties managing director Mark Gray said the milestone marked the next steps for Australia’s largest urban development. “We’re proud to be working alongside Landcom and Mirvac to bring the Town Centre to life,” he said. “The signing of today’s project agreement demonstrates we’re ready to push forward and begin work on the site.
“Our combined aim is to create a precinct that will become the centerpiece of this new commercial, residential and retail hub.”
He added that the Green Square precinct is expected to create about 7,000 jobs, provide new homes for around 5,500 people and generate approximately AU$3.2bn to the wider economy both during and after construction.
Green Square Town Centre is a long-term project that will evolve over the next 10 years. Construction is expected to start in the second half of this year.
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