New apartment tower: what it means for the local market

Gosford’s skyline is set for a dramatic change after council green-lit a new 18-storey apartment tower on Mann Street, making it the tallest residential building in the city’s history. Developer Arkadia Property Group plans to start construction next March, promising 170 units, a rooftop garden, and ground-level retail within walking distance of the station and Leagues Club Park.

Renewal meets growing demand

Momentum for new high-density housing in Gosford has been building, thanks to rising Sydney prices and faster Central Coast to Sydney rail trips since the timetable overhaul in mid-2025. The tower’s approval comes as Terrigal and Avoca Beach waterfront homes continue to be snapped up for $3 million or more, pricing many locals out of established suburbs. The Mann Street project’s focus on apartments under $950,000 could open doors for first-home buyers and downsizers who want an urban lifestyle near Gosford’s main amenities.

Central Coast Council’s 2023 master plan earmarked this section of Mann Street for revitalisation, targeting mixed-use towers to inject foot traffic and economic energy into the centre. The tower will join recent arrivals like The Waterfront apartments and Bonython Tower, both completed within the past five years, which have started to change the face of the city but have yet to establish a clear market trend.

Mixed signals for local prices

According to CoreLogic, the median apartment price in Gosford reached $675,000 in June, up 5.3% year-on-year, but sales volumes have been patchy. While waterfront houses in Avoca Beach topped a median of $2.48 million, the city-centre units remain more affordable, luring investors and renters seeking easy commutes. Local agent data suggests the majority of recent off-the-plan sales in Gosford have been to buyers relocating from Sydney’s northern suburbs, with roughly 40% planning to owner-occupy.

Real estate consultant Sophie Barnes, who advises several Central Coast developments, points to a noticeable shift: "Pressure is building on land releases in the north, but demand for quality apartments in urban hubs is growing. Projects like this will test just how deep that appetite runs." Most experts agree that if the new tower achieves strong pre-sales, it could trigger a wave of similar proposals in the council’s designated growth corridor stretching from Brian McGowan Bridge up to the hospital precinct.

What comes next for buyers and the CBD?

With the first release scheduled for September, would-be buyers are advised to register early, as minimal stamp duty concessions still apply to some first-home purchasers under current NSW government rules. Arkadia is promising a mix of one-, two- and three-bedroom floorplans. Agents at McGrath Central Coast expect the project’s marketing to ramp up after winter school holidays, targeting commuters and investors attracted by faster trains and ongoing upgrades to Gosford Hospital and Central Coast Stadium.

All eyes are now on how quickly units will sell and whether this signals a true appetite for high-rise living outside the Sydney metro orbit. Success here could accelerate further investment in the city core, inching Gosford closer to the vision set out in the UDLP’s Gosford City Renewal Strategy. For now, it represents the most significant single bet yet on the Central Coast’s changing skyline—and a test of whether the region is finally ready to embrace vertical growth.