23 October 2012 — The concept plan for an apartment building at 71-79 Macquarie St, part of the Circular Quay precinct, has been approved by the NSW Government. The apartments are being developed by AMP Capital and Mirvac Group. AMP Capital Office and Industrial Property managing director Louise Mason said the 19-level, $300 million project would feature a world-class residential building and luxury serviced apartment accommodation and revitalise Circular Quay. The plan includes extending the harbour-front colonnade, creating a new pedestrian walkway, giving priority to pedestrians and opening spaces for new shops and restaurants at ground level. A national design excellence competition will be conducted by the City of Sydney will ensure the project achieves design excellence and reflects the best in architecture, urban design, sustainability and renewed public space.