Developers have revealed plans to transform Wollongong's Oxford Tavern site into a towering residential and commercial complex.
Daintry Associates recently lodged a development application for a 14-storey development on behalf of Sydney firm PSR Crown Investments, which bought the rundown CBD site for a reported $7 million in April.
The $38 million development, if approved, would be known as Oxford on Crown.
It would include 135 apartments across two towers, including four penthouse residences on the top floor.
The south tower, at the corner of Corrimal and Burelli streets, would contain 68 apartments while the north block at the corner of Corrimal and Crown streets would have 67 residences.
There would also be two lower floors of shops and office space, and two basement parking and storage levels with room for 259 cars.
The ground floor is proposed to include two arcades, commercial and retail foyers and access to the underground car park, while the first floor would house offices and a large outdoor common area for residents of the complex.
As part of the development proposal, the Oxford Tavern and surrounding buildings would be bulldozed.The site will be remediated to allow for the new development.
The planners have also proposed Town Hall Place - the road that runs off Burelli Street and behind the Illawarra Performing Arts Centre - be widened to allow access to the building's basement.
The long-vacant site went on the market last September after administrators McGrathNicol decided not to sell it as a package with the former Dwyers site across the road. Wollongong City Plaza Pty Ltd - a Belmorgan company - had planned to build the controversial $160 million Gravity development, which was to include a shopping centre, cinema and hotel, across the two sites.
However, the company went into receivership in December 2008 and was wound up.
The proposed Oxford on Crown complex will be assessed by the Southern Joint Regional Planning Panel because it is valued at more than $20 million.