Newcastle Beach’s Arena not a hotel
Keith Stronach’s $100 million Arena project on Newcastle Beach will no longer have a hotel component.
The developer says he is scrapping the hotel component because of a lack of demand and to make way for more apartments. The 14-storey Arena project has been approved but Stronach has applied to change the plans for a 100-room 4½ star hotel into more apartments.
Construction has started on the southern tower with 55 apartments and work is also underway on the northern tower’s basement.
“There is quite a few hotels around – another one being built down in the west end on the old museum site and also the other one near the Crowne Plaza. We just figured that the market was looking for more apartments, and there’s excess demand to what we had,” Mr Stronach said.
If the changes are approved there will be 220 apartments.
