GPT’s $200 million West Keira complex has been given the go-ahead by the company’s board, with work to begin before the end of the year.
GPT head of development, Anthony McNulty, made the announcement at today’s Property Council Australia Illawarra luncheon.
Early preparation works will commence before Christmas, with major works to start in the new year.
The complex will take just over two years to complete, with a finish date expected in the first quarter of 2014.
A second stage, which will include housing for 300 University of Wollongong students, has yet to be approved by GPT’s board.
GPT first floated the idea of a makeover for the Keira St precinct in 2002, but it was not until June 2005 that the community discovered what the shopping centre giant had in store.
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Shoppers were enticed with news of a dashing six-level complex, including three levels of shops, which would be linked to the present Wollongong Central shopping centre via a tunnel and pedestrian bridge across Keira St.
View West Keira in a larger map
In May 2008, the then-NSW Planning Minister Frank Sartor approved GPT’s expansion plans, valued at $311 million at the time.
But just four months later the development was halted due to the global financial crisis.
GPT announced in July this year the stalled project was back on its radar, lodging revised plans with NSW Planning.
The department is yet to sign off on the plans.
The scale of the revised development will remain the same, however retail floor space has been reduced from 20,000sqm to 18,000sqm.
The precinct will include 80 specialty shops, with a focus on food.
Coles is expected to sign on as the centre’s anchor tenant.
GPT: THE STORY SO FAR
May 2008: Then-NSW planning minister Frank Sartor announces approval for GPT's major expansion of Wollongong Central Shopping Centre at the corner of Crown and Keira streets, costed then at $311 million. September 2008: GPT says it will delay construction for at least two years after the financial crisis hits, in the meantime pledging a $30 million refurbishment of Wollongong Central. February 2009: Twenty shops on the GPT site are put up for lease, after tenants are evicted so demolition work can begin. November 2009: GPT chief executive Michael Cameron calls for Crown St Mall to be reopened to traffic. February 2010: Stockland Shellharbour gets the jump on GPT by declaring it will bring forward plans for a $300 million redevelopment of its Shellharbour shopping centre, now due for completion by Christmas 2013. March 2010: GPT's annual report says the plan is in the "development pipeline", giving it a revised $250 million price tag. August 2010: GPT announces it will axe a $600 million shopping centre plan in Newcastle, spelling doom for the future of that city's retail precinct. November 2010: GPT confirms it is in talks with Myer for a $30 million overhaul of the former Gateway shopping centre, but Keira MP David Campbell demands to know when the full project will proceed. January 2011: UOW Vice Chancellor Gerard Sutton makes a public pledge to house 300 students in the development should it go ahead, however GPT remains non-committal. November 2011: GPT confirms stage one of the West Keira project will go ahead, with early work to begin before the end of the year.This reporter is on Twitter: @ShannonTonkin
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