A Sydney real estate funds manager has filed concept plans for a giant $900-million redevelopment of the 5ha Tweed Mall Site.

Elanor Investors Group is seeking a staged redevelopment of the Tweed Shopping Mall, which comprises 13 new buildings of up to 15 storeys on the corner of Wharf and Bay streets, just a couple of blocks from the Tweed River and less than a kilometre before it spills into the ocean.

The masterplan will take about a decade to complete and is estimated to cost about $907 million.

The plans before Tweed Shire Council are for more than 1400 townhouses and apartments, 45,000sq m of retail space—including three supermarkets, fresh food market, and food and beverage outlets—a 52-key hotel, 14,000sq m of office space, a medical centre, a cinema complex, a childcare centre for up to 200 children, wellness centre and gymnasium.

In documents before the Tweed council, Sutherland and Associates Planning said the concept plan “begins with the introduction of a new street and pedestrian network which will integrate with the pattern of the existing road network and street blocks in the locality”.

At the centre of the development will be a so-called “green heart” among the 13 buildings, some of which will rise to 49.5 metres. About half the site, or 24,665sq m, will be open space. There will be parking for up to 2500 cars.

“The residential development will comprise a diverse housing stock including two-storey terraces, maisonettes and apartments to accommodate and foster a diverse community of residents,” Sutherland’s report said.

That comes as welcome news to Tweed mayor Chris Cherry, who told The Urban Developer she hoped the concept plan would bring housing for the town’s key workers.

Source: theurbandeveloper.com, urban.com.au & Tweed Shire Council