A long-running proposal to redevelop Double Bay’s ageing Cross Street Car Park has entered a new phase, with Woollahra moving ahead with plans to sell part of the site to help fund a new public parking facility.
Read: Cross Street Carpark Debate Continues in Double Bay
The proposal follows years of debate over the future of the site at 1-13 Cross Street, which currently provides around 380 parking spaces within Double Bay’s commercial centre. Built in the 1970s, the multi-level structure requires either major remediation work or a complete rebuild.
Under the latest plan, approximately 38 per cent of the southern portion of the property will be offered for sale through a tender process. Money raised from the sale is intended to fund the construction of a new publicly owned five-storey car park on the remaining land.
Previous Redevelopment Proposal Fell Through
The site has already attracted interest from developers. In 2022, Woollahra selected a consortium led by Assembly Funds, backed by the Lowy family, together with Pallas Capital, as its preferred development partner following a competitive selection process.
The proposal envisioned a mixed-use redevelopment that would have transformed the existing car park into a precinct featuring a cinema, retail space, community facilities, offices and residential apartments while retaining public parking.
However, Assembly Funds withdrew from the project in April 2024 after the parties were unable to reach agreement on key commercial terms, bringing that redevelopment proposal to an end.
The latest strategy takes a different approach by separating the site into two portions. The southern section would be sold for future mixed-use development, subject to the relevant planning framework, while the remaining land would accommodate a replacement public car park.
Commercial real estate agency Colliers has been appointed to manage the sale campaign. According to the agency, the property represents one of the few remaining large-scale development opportunities within Double Bay’s village core.
New Car Park Planned for the Site
Plans released by Woollahra outline a new five-storey parking facility with a minimum of 412 spaces, increasing capacity from the current 380 spaces.
The proposal includes one level of underground parking as well as rooftop parking. Construction is expected to take about two years, with work currently anticipated to occur between 2028 and 2030.
The redevelopment is expected to cost about $53.5 million. According to Woollahra, rebuilding the facility offers better long-term value than repairing the ageing structure. It estimates that extending the existing car park’s life by around 10 years would require at least $26 million in remediation works, while extending its life by 25 years would cost more than $39 million.
Local officials say those costs make rebuilding the more financially viable option over the longer term.
Community Feedback and Next Steps
The proposal has already undergone public consultation, with residents, businesses and other community members invited to provide feedback through online submissions, emails and a community information session.
Those submissions were considered at the 28 April meeting, where elected representatives resolved to proceed with the next stage of the project by seeking tenders for the sale of the southern portion of the site.
Read: Luxury Vision: $18M Proposal Aims to Transform Cross Street in Double Bay
Future reports are expected as the redevelopment progresses. The Cross Street Car Park provides convenient access to Double Bay’s shops, cafes and restaurants and currently serves around 380 vehicles. The proposal aims to maintain public parking while replacing the ageing structure.
If the sale proceeds as planned, the project would deliver a new publicly owned car park with at least 412 spaces to replace the existing ageing facility.
Published 31-July-2026
