A major redevelopment is now in motion for 1 North Terrace, Bankstown, with Vicinity Centres advancing a State Significant DA and concurrent rezoning to reshape the Bankstown City Centre. Â
The circa 57,000 sqm site is the single largest private landholding in the city centre and currently accommodates the 2-3 storey Bankstown Central Shopping Centre and extensive retail floor space. Â
The proposal marks one of the most significant renewal projects in Sydney’s southwest and leverages the Bankstown Transit-Oriented Development rezoning, which came into effect in late 2024. Â
The transformation is anchored by the forthcoming Sydney Metro upgrade – opening in 2026 – which will connect Bankstown directly to the CBD, North Sydney, Chatswood and Macquarie Park. The site sits immediately north of the upgraded station. Â
Vicinity is now seeking approval for about 1,500 new dwellings across two major precincts: the Town Centre Precinct and the Exchange Precinct. The development would demolish the existing retail buildings in these locations and replace them with seven mixed-use towers ranging from 83m to 86m in height. Â
Four shop-top housing towers in the Town Centre Precinct would deliver roughly 1,002 apartments, while three towers in the Exchange Precinct would contribute an additional 570 dwellings. Â
A new 24.8m-wide road connection would link Jacobs Street to North Terrace, unlocking greater permeability and enabling the street grid envisioned under the Bankstown City Centre Master Plan. Â
The proposal incorporates 5,000 sqm of public open space, earmarked as a key civic anchor for the broader renewal of the city centre. Â
On completion, the redevelopment will shift the site from a traditional suburban retail centre to a high-density, mixed-use urban precinct supporting thousands of residents and reinforcing Bankstown’s role as a strategic metropolitan centre.Â
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