A new hourglass shaped tower will be realized on the site of the former Mercure Hotel, opposite Sydney’s iconic Coca-Cola sign, following a design competition awarded to Durbach Block Jaggers.
The 19-level tower will hold 139 apartments and entry will be from tree-lined Victoria Street. The Durbach Block Jaggers plan shows the inclusion of a major supermarket brand on level one as an anchor tenant.
The developer, Iris Capital, received stage one approval to transform the building and currently has a development application detailing elements of the project before council and approval is expected by July or August.
“The redevelopment of the Mercure Hotel site will connect Macleay Street with Darlinghurst and further contribute to the repositioning of Potts Point as one of Sydney’s most sought after suburbs,” Mr Sam Arnaout, Iris chief executive, said.