Plans to build 184 new apartments in Gosford have been approved.
The project is set to cost $132 million and will also include five levels of car parking as well as a new retail space.
Developers JMGM were given the go-ahead last week for the mixed-use residential building at 331 Mann Street.
The new development, designed by Sydney-based architecture firm, Chapman, is set to be built on a 3,310sqm site on New South Wales’ Central Coast.
‘Project Horizon’ is estimated to be complete in two years’ time, but developers confirmed construction would only get underway once 50 per cent of pre-sales had been achieved.
NSW Department of Planning and Environment’s Central Coast Regional Plan 2036, released four years ago, touted Gosford and surrounding areas to significantly grow in the coming years as migrants from Sydney seek cheaper housing alternatives.
Investors and developers have taken note, looking up the coast as far as Newcastle for new opportunities, with new hotels, shopping centres and cinemas being built.
As part of the NSW fast rail strategy, the state government has also dedicated $80 million to a high-speed rail network between Woy Woy and Northern Sydney.