NEWCASTLE’s CBD is poised to lose one of its handful of large parking stations early next year.
A development application for the first stage of Iris Capital’s East End apartment and retail development will go before the Hunter and Central Coast Joint Regional Planning Panel on Thursday.
If the project wins approval, it is understood work could start as early as February on demolishing Wilson Parking’s King Street station to make way for an 11-storey apartment tower.
The former David Jones car park has 386 spaces costing $8 a day and is used by hundreds of inner-city workers and shoppers.
The Herald reported last year that the city would lose 1000 parking spaces due to redevelopments in the Honeysuckle precinct and the light rail line, although Newcastle council has approved another 296 spaces at the Gibson Street car park.