Property for sale in Wollongong may be more appealing to buyers, with the news that a significant commercial development is in the works for the city.
It was confirmed on Friday March 22 that the Crown Street Mall would be refurbished, in a move that lord mayor councillor Gordon Bradbery says will be vital in Wollongong’s modern development.
Partly financed by the Australian government’s Regional Development Australia Fund, the revitalisation project may have a positive impact on real estate in Wollongong.
“It is an important point in the city’s history that we help move from a city that was dependent on steel manufacturing and other industries,” Mr Bradbery said.
“We have not shirked from taking the hard decision to remove the old mall, which was first constructed back in 1986, nearly 30 years ago.”
The councillor stressed the importance of making a successful transition toward progressive industries, like education and health, in the development of the city.
“We have also ensured that the new Crown Street Mall will be a vibrant and active place where there will be plenty of entertainment, markets, as well as the popular retail and business opportunities that the city offers.”
Wollongong is located in a scenic part of New South Wales, flanked by the Tasman Sea, Lake Illawarra and beautiful parklands.
Approximately 80 km north of Sydney, the city of 200,000 is a quieter alternative to the hustle and bustle of the state capital.
Wollongong was historically a steel mill city, but the area has been gaining momentum through recent efforts to upscale the local economy.
Proponents of the community’s growth hope to see the Crown Street Mall refurbishment achieve some of those aims.
The Australian government, represented by federal member for Cunningham Sharon Bird, took part in the announcement and contributed $5 million to the refurbishment.