Mirvac Breaks Ground at 2 Billion Harbourside Redevelopment

31st July 2023

Construction has officially commenced at Mirvac’s Harbourside mixed use precinct, a significant milestone in the $2 billion revitalisation project which will deliver a critical missing piece of Sydney’s $15 billion Western Harbour rejuvenation that has been underway since the completion of the International Convention Centre.

Harbourside Groundbreaking

Due for completion from 2026, the new Harbourside precinct will reimagine the Darling Harbour waterfront for the 21st century, reconnect with the people and places of Pyrmont, and create a network of new public spaces that seamlessly bring together community, visitors, residents, and workers.

Mirvac’s CEO Development Stuart Penklis said: “Mirvac has partnered with the NSW Government and the community to plan for the redevelopment of this landmark new retail, commercial and residential precinct since 2016. A significant project in the heart of Sydney, the site will support more than 2,000 construction jobs and create nearly 4,500 further jobs on completion.”

“We have been on a journey to truly understand this site, starting with international group Snohetta partnering with Hassell and Djinjama winning the international design competition inspired by the natural landforms of Sydney Harbour. Our cultural commitment continues as we work with the community, and partner with Bila Heritage to continue to bring Harbourside to life in a way that is truly connected to Country.”

Subject to final approvals, the new Harbourside project deliver 10,000 square metres of public open space, including a new waterfront with restaurants, bars, national and international retailers, a new 3,500 square metre park and connections from Pyrmont to the waterfront, including $50 million in public domain funding and $7 million in public art and activation.

Minister for Planning and Public Spaces Paul Scully said this was a significant milestone in the $2 billion redevelopment project which will deliver an expanded open space and public realm as part of Darling Harbour’s $15 billion plan to revitalise the precinct. The redevelopment proposal is also expected to deliver approximately 265 apartments, offering housing choice and diversity on the fringe of the Sydney CBD, and make Darling Harbour a more attractive and vibrant place to live, work, and visit.

“It’s a great example of the Minns Government working with the private sector to deliver world-class amenities to the people of NSW,” Mr Scully said.

Mr Penklis said: “This is another great example of the private sector working in partnership with the NSW Government to develop a world class new precinct to benefit the people of NSW and visitors to our State. This redevelopment demonstrates Mirvac’s integrated design, development and construction capabilities and our ability to partner with Government to unlock large scale complex mixed-use projects.

“Sites like this are incredibly rare when you consider the proximity to the CBD, the existing and future pedestrian linkages, access to public transport and other critical infrastructure. We are proud to be starting the development at Harbourside that will elevate this precinct as a legacy Sydney destination and a place to live, work, shop and enjoy.”

Mirvac’s CEO Development Stuart Penklis was joined at the official commencement event by Mirvac Group CEO & Managing Director Campbell Hanan, NSW Minister for Planning and Public Spaces, the Honourable Paul Scully MP, Acting CEO Placemaking NSW Susan Lee, and other guests, who marked the occasion by turning the first sod onsite.

The Harbourside redevelopment will deliver a total gross floor area of 87,000 square metres, including 45,000 square metres of commercial space, and 42,000 square metres of residential space, including approximately 265 luxury apartments across 43 levels.


Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.