City Centre Revitalisation
Wollongong is continuing its economic transformation, with over $1.3 billion worth of city centre investment in the past 4 years, with $300 million still in the pipeline. Significant projects include:
- $200 million upgrade to Wollongong Central by GPT, including an additional 18,000m2 of speciality stores, a new supermarket, department store and 650 car spaces.
- A further $93 million to be invested in Wollongong Central in 2017 to update the centre's Keira Street building.
- $134 million expansion of the Wollongong Public Hospital.
- A new $120 million private hospital on Crown Street, operated by Ramsey Health Care.
- 38 facades updated as part of Wollongong City Council's Facade Rejuvenation program.
An increase in demand for inner city living continues as major residential developments in Wollongong’s commercial core emerge from the ground. When taking into consideration current developments underway or approved within the Wollongong City Centre, it is estimated the inner city population will increase by 150% over the next 3 years.
Adding to the city centre revitalisation is the growth of the café/small bar culture. Around 60 new small bars and cafe’s have been established in the city centre over the last 3 years. The growth of the small bar and café scene, coupled with safety improvements, relative affordability and close proximity to the beach means the Wollongong City Centre is an increasingly desirable location to work, live and play.
Wollongong’s City Centre already provides employment for more then 20,000 people, the largest employment area in the region. The precinct is the region’s business and administrative centre. The majority of knowledge service businesses in ICT, financial and shared services have their corporate offices located within the city centre precinct. The precinct offers a range of office accommodation from small serviced offices to large footprint A Grade offices. Commercial office opportunities are also available with around 80,000sqm of DA approved commercial developments. The Advantage Wollongong Commercial Property Report provides a summary of available options for large commercial premises in the Wollongong City Centre.