A proposed mixed-use project with 42 opulent apartments on the site of the Hyde Park Inn has been given the green light by the City of Sydney, with developer Central Element and equity partner MaxCap Group expecting the project to go to the market in early 2024. The two companies had previously forecast the project to be completed in 2023, but was delayed due to the development application (DA) process which is now finally over the line. A spokesperson told Business News Australia the estimated end value of the project is $450 million. The Hyde Park site at 271 Elizabeth Street will be designed by architects Angelo Candalepas and Glenn Murcutt, who will be working together for the first time on a project for the City of Sydney. Candalepas is renowned for his projects All Saints Grammar School, Belmore, and the Punchbowl Mosque, among others. His firm was most recently awarded The Fox: NGV Contemporary in Melbourne, Australia’s largest gallery dedicated to contemporary art and design.
https://www.businessnewsaustralia.com/articles/central-element--maxcap-get-green-light-for-hyde-park-development.html
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