Gosford ushers in a new era amid transformation
Published by: afr.com
Gosford is undergoing a period of rapid transformation which is set to change the economic and infrastructure outlook of the coastal city.
The nation’s housing shortage is being tackled head-on in the NSW coastal city of Gosford as the state government collaborates with developers and local government to set out a bold vision for growth.
Economic modelling suggests that Central Coast’s population will surge by 100,000 over the next two decades as Gosford’s economy gathers pace. Demand for new housing will also strengthen, with 32,500 new homes required during this period.
Despite the withdrawal of some developers, a number of significant developments are underway. Recognised as Sydney’s satellite city, Gosford’s skyline is filled with cranes and sparkling high-rise towers as work on projects are expected to be complete in 2025.
On the way up
The jewel in the crown is the cosmopolitan Archibald project, which has been called a game changer that will change the image and economic fortunes of the Central Coast city.
The project has created hundreds of jobs during its construction phase as 327 residential apartments add to the city’s housing footprint. Archibald, which is nearing completion, has been developed by award-winning Sydney developer ALAND.
The $375 million development is unlike anything tackled before in Gosford. Almost all of the architectural design-led apartments have been snapped by local downsizers and investors from Sydney and Newcastle.
ALAND founder Andrew Hrsto purchased the land from a developer that had walked away from the Archibald project and left a hole in the ground. Hrsto had been eyeing off Gosford for many years.
The development will do more than just transform the nighttime economy of Gosford. It will help reposition the coastal city as a major new tourism and conference destination, with employment opportunities for more than 200 people creating new opportunities for locals seeking a career in catering, hospitality or event management.
Hrsto says buyers have been crying out for a development that offers not just one- and two-bedroom apartments, but also three- and four-bedroom apartments that suit families wanting to get into the real estate market for less than the cost of a standard house.
“Gosford has the advantage of being an up and coming regional centre with good transport links to Sydney. There’s a good pool of skilled labour on the Central Coast and we’ve found the local council extremely professional and efficient, meaning that sourcing building supplies has been straightforward,” Hrsto says.
Buoyed by the knowledge that the Central Coast is experiencing a boom due a number of capital expenditure projects, Hrsto also added a 130-room hotel and six hospitality venues to the Archibald development, which will also feature the city’s highest rooftop bar, a ground floor pub, restaurant, ballroom and a pizza and pasta bar.
“With a growing population and major infrastructure in the pipeline, Gosford adds up to an attractive investment. In terms of future projects,” Hrsto says.
Housing boom
Housing projects like Archibald by ALAND are part of a push from the NSW Government to meet a Central Coast housing target of 9,400 homes over the next five years, which has added nine additional residential lots to the area of Gosford.
The NSW Government has been open about its commitment to tackling the state’s housing crisis head on, with a plan to building homes located close to transport, services and jobs in existing communities where people want to live.
Central Coast Council has developed a local housing strategy to better manage housing supply across the region. The council says it will take a coordinated approach across all levels of government and the private sector is required to support diverse and sustainable housing on the Central Coast and respond to community concerns.
President of the Gosford Erina Business Chamber Peter Lawley OAM says Gosford and the broader Central Coast is on the cusp of significant change. “I’m delighted to see the transformation of this city, and opportunities these changes provide for business, community and employment into the future,” Lawley says.
He continued: “For too long this beautiful waterfront city has been neglected by all levels of government, and thankfully we have development confidence from the private sector to make the NSW and Federal governments stand up and notice the wonderful opportunities that exists, just an hour north of Sydney. With quality health services, rail link to Sydney and Newcastle, and a University of Newcastle expansion in Gosford CBD, times are changing.”
To learn more, visit archibaldbyaland.com.au
