Green light for 240-unit mixed-use tower near Gosford CBD as planners back $180m development

Gosford's transformation into a genuine metropolitan hub took a decisive step this week, with the Central Coast Regional Planning Panel approving a $180 million mixed-use development that will reshape the precinct around Mann Street and Bay Street.

The 240-unit residential tower, which will rise 18 storeys above street-level retail and hospitality spaces, represents one of the largest approvals granted in the Gosford CBD since the fast rail corridor announcement reinvigorated the city's development pipeline. For a region where the median property price sits around $820,000, the scale of investment underscores shifting perceptions about where Central Coast growth is heading.

"This approval reflects genuine momentum," said a spokesperson for the planning authority, noting the development's alignment with NSW government priorities around transit-oriented housing near rail corridors. The project will deliver 60 affordable apartments, a requirement that has become standard in major Gosford approvals, alongside premium one-, two- and three-bedroom dwellings expected to range from $550,000 to $1.2 million.

The site, currently occupied by underutilised commercial buildings and surface parking, sits within walking distance of Gosford Station—a critical factor in its approval. Transport planners have consistently flagged the station precinct as capable of absorbing significant residential intensification, particularly as the Sydney-Newcastle fast rail project advances.

Local stakeholders have cautiously welcomed the news. Gosford Chamber of Commerce representatives highlighted the retail activation potential, while residents in surrounding suburbs like West Gosford and Kariong flagged concerns about traffic and parking—familiar friction points in the CBD's ongoing renewal.

The development comes as Gosford competes with more established coastal alternatives like Terrigal and Avoca Beach, where waterfront apartments regularly command $2.3 million-plus premiums. While the Central Coast's northern beaches dominate media attention and luxury pricing, planners see the CBD as the region's true growth frontier, particularly for owner-occupiers and investors seeking better value than Sydney's inner west.

Construction is expected to commence in early 2027, with completion targeted for late 2029. Developers have flagged plans for a ground-floor laneway activation, echoing successful models from similar projects across regional NSW.

The approval clears the way for additional applications in the pipeline, with at least three major mixed-use projects currently at assessment stage. For a city still establishing its identity beyond its industrial past, the momentum is tangible—even if sceptics argue it remains early days for Gosford's rebound.

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