Developer sets sights on CBD
“A PROPOSED $70 million luxury apartment block, branded the ‘‘gateway to North Sydney’’, is one of a ‘‘new breed’’ of developments aimed at increasing density in and around the CBD.
Struggling business owners have been crying out for residential growth in the city centre to inject life into it outside work hours.
The 11-storey Montrose project at 38 Angelo St promises to house up to 150 residents in its 104 boutique apartments. ‘‘It’s the first of a new breed of residential developments in that strip,’’ Colliers International project marketing director Curtis Field said.
‘‘The key to getting the CBD bustling again is to have residents living close by and using shops, gyms, bars, and other services.’’
He added the building would accommodate the maximum number of underground car parking spaces and the rooftop would double up as an open air theatre. If approved, construction will begin early next year.”