A pair of new office towers have been approved for development above the future Martin Place Metro station.
New 39-storey and 29-story towers will be built over the future Metro station’s northern and southern entrances, respectively, after the development was signed off by the state government on August 21.
The development is part of the metro precinct being delivered to connect the new Martin Place Metro station, the existing platforms for the T4 Sydney Trains line, and surrounding business and retail precincts.
The whole development is being delivered by the Macquarie Group in an arrangement aimed to provide more funding for the Sydney Metro project itself.
Macquarie Group won the work after submitting an unsolicited proposal to deliver the station and tower precinct in 2017.
NSW premier Gladys Berejiklian said the new buildings would support 2,500 jobs during construction, and house almost 9,000 office, retail and hospitality workers once complete.
“Sydney is Australia’s only truly global city and developments like this continue to elevate our status,” the premier said.
“The Martin Place development is a win for the community and a win for taxpayers, with Macquarie Group helping pay for the metro station as part of the deal.”
Planning and public spaces minister Rob Stokes said the integrated station and towers was a great example of a well-designed development being built in the right area.
“These towers, which underwent a rigorous assessment by the Department and an independent design review panel, will enhance Martin Place’s position as a jobs and transport hub in the heart of the CBD,” he said.