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Vicinity Centre has finally lodged a DA for Stage 1 of their Bankstown Central Masterplan.
Nice to see progress finally coming to this substantial project.

Designed by fjmt in conjunction with Urbis

The DA seeks development consent for the redevelopment of the site as outlined:

Demolition of existing structures construction of two eight (8) storey mixed use commercial towers including:
  • Excavation for and construction of two levels of basement car parking for 325 car spaces, 225 bicycle parking spaces and end of trip facilities with access off Jacob Street, with ramp access from the existing centre car park at Rickard Road;
  • Re-alignment of car parking spaces in the at-grade car park fronting Rickard Road immediately east of the site.
  • Ground floor podiums containing general retail, wellness space, co-working spaces, food and beverage spaces and commercial lobbies;
  • Commercial office spaces for levels 1-8;
  • Construction of a two storey retail pavilion;
  • Development of ground floor commercial spaces adjoining the existing shopping centre for food and beverage facilities along an “Eat street” pedestrian laneway.
  • Provision of public accessways and spaces including an “Eat street”, open plaza, green boulevard and through site linkages; and
  • Provision of detailed site landscaping and street tree planting throughout and on the curtilage of the site;
  • New road alignment along Jacobs Street;
  • Development of a new bus interchange in accordance with Canterbury-Bankstown Council's Complete Streets Masterplan
The proposed works have an estimated cost of $165,042,291.00

Overall Masterplan

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Renders specific to Stage 1 DA works (Note: the 2 x 8 storey commercial towers are on the corner of Rickard Road and Jacobs Street)

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I'm impressed. Rather than build a massive Westfield type last-century monolith with apartments, they are shrinking Bankstown Square, probably rebuilding it, making it closer to a Rouse Hill Town Centre in layout.

Definitely forward thinking, the same way that Roselands was in the mid 20th century.
 

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Fare thee well Waltons.
My wife had a part-time job there when we first met (well, it had switched to Venture by then, but Waltons when she started).

I agree, great forward thinking plan. I worked in Rickard Rd for a few years and, even with the tweaking and the addition of the eastern section, the whole area has seemed tired for a very long time.
 

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From the Urban Developer:
DEVELOPMENT Renee McKeown 05 AUG 20
Vicinity, Challenger Share Big Plans for Bankstown Central
47223bc6-d184-43eb-8d38-09120bd02550

Vicinity Centres and financial services group Challenger will create a mixed-use development at Bankstown Central, adding apartments, office buildings and a hotel to the 11.4-hectare site.
The plans for Sydney’s south west will see up to 3,500 residents and 1,800 students move to the area by 2050.
They include 300,000sq m of modern buildings added to Bankstown Central’s existing footprint across 16 development sites, staged to meet market demand.
The project will kick off with two office buildings and green space worth $222 million—a seven-level building overlooking Jacobs Street with an “eat street” on the ground level, an eight-level building fronting Rickard Road as well as 4,700sq m of public space.
Related: Vicinity Centres Reveals Billion-Dollar Box Hill Plans
▲ The Bankstown Central plans feature rose gold-coloured office buildings with restaurants on the ground floor.

▲ The owners of Bankstown Central plan to redevelop the site and surrounding area over the course of three decades.

Vicinity chief development officer Carolyn Viney said the plans embrace “hyper-local” living and would link to nearby transport.
“These development applications, along with the planning proposal submitted in December 2019, are a significant step in the future revitalisation and renewal of Bankstown’s town centre, which has experienced limited new private investment over the past 30 years,” Viney added.
“Our 2050 vision reflects our long-term confidence in the Canterbury-Bankstown region and supports Sydney’s continued population growth and ongoing densification in areas best placed to accommodate it.”
In 2003, Vicinity acquired a 50 per cent interest in Bankstown Central, which first opened in 1966 and was redeveloped in 2008.
The application is yet to be approved by the City of Canterbury-Bankstown and commencement of the projects will be subject to approval by the boards of both Vicinity and Challenger boards.
The plans aligns with the Greater Sydney Commission South West District Plan which identified Bankstown as a strategic centre to support population growth and the development of a “30-minute city”.
Once complete, the project is expected to generate an additional $89 million in retail spending at the centre.
The plans follow Vicinity’s strategy of upgrading older assets, which also includes Box Hill Central in Melbourne.
It’s been a slow start to the year for Australia’s second-largest retailer, with Covid-19 leading the company to slash $1.79 billion off the value of its portfolio.
Strong May and June sales boosted retail results, however the pandemic continues to cloud the future outlook.
 
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