Crown Resorts finalizes Sydney land deal with Lend Lease

Crown Resorts said it has finalized development agreements with property company Lend Lease and the Barangaroo Delivery Authority that will allow it to proceed with the development of its six-star resort.

The company still needs New South Wales planning approval. A management contract with Lend Lease has also been signed.

“The finalization of arrangements with BDA and Lend Lease is a significant milestone in the development of the Crown Sydney Hotel Resort,” Crown CEO Rowen Craigie said.

The VIP-only resort will be Sydney’s second casino and is scheduled to open in 2019.

Last week, the New South Wales Planning Minister Rob Stokes ruled out an independent commission hearing on a controversial proposal to modify Packer’s Barangaroo development.

 Developer Lend Lease lodged the modification request, which calls for a 7.4 percent increase in gross floor area and a 275-metre height limit for the hotel and casino building, which is higher than the 170 metre limit in the original plan.

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