Iris Capital CEO Sam Arnaout said the Stage II proposal was the result of a rigorous design excellence process endorsed by Newcastle City Council and
the office of the Government Architect New South Wales.
Plans have been released for Stage II, which comprises of 124 apartments and 5 terraces in the area bounded by Hunter, Wolfe, King and Thorn Streets.
“I am very proud of the work done by Newcastle architects CKDS Architecture on this stage,” Mr Arnaout said.
“This is a dynamic development that takes majestic heritage buildings and repurposes their grandeur for future use.
“The development will respect the existing heritage of the buildings and will retain the heritage facades in the building design. The Masonic Hall and
Lyrique Theatre facades will be retained in the south Lyrique building, as well as the theatre stage area, which will be a design feature of the building.
Facades on the old Royal Exchange and the Soul Pattinson Chemist will also be retained.”
Mr Arnaout said the five terraces on King St will be fully renovated and reinstated to their original residential use.
CKDS Architecture Director Stuart Campbell said the design navigated the varied scale and conditions from Victorian terraces along King Street through
to the faceted facade of the Soul Pattinson Building.
“The development will establish a laneway connection between Wolfe and Thorn Streets. Lyrique Lane will be activated by fine grain retail and the adaptive
reuse of the historic Lyrique Theatre,” Mr Campbell said.
“We are really proud to be involved in the East End development. Iris’ commitment to quality ensures that this will become a world-class development that
all the public can discover and enjoy."
Construction is expected to start in the first quarter of 2019 and take around 20 months to complete.