The recent decision to State Heritage List the MLC building in North Sydney has placed the urban renewal of Sydney at risk.
Before the heritage listing, the MLC building had already seen sustainable up-zoning, meaning that the encouragement towards the new owner to spend millions of dollars on new design plans has become a very costly and unnecessary expense.
This decision has likely come with the NSW Government's desire to fast-track the approval for the Metro Station development as the Victoria Cross station is directly adjacent to the MLC site.
Our very own Tim Fox stated that "This is very concerning. #PropertyFox was involved in selling the old Watch Shop (187 Miller Street) a couple of doors up from North Sydney MLC. This building had a local heritage listing which was disregarded to make way for the Sydney Metro. This property had heritage merit and ended up being demolished so why Heritage list North Sydney MLC?"
Source | Tom Forrest, Urban Taskforce