The tower will be located at 525 George Street and will comprise 292 hotel rooms, a gymnasium, outdoor pool and 115 residential apartments.
In a design statement, the architects said “the tower, with its dominant vertical proportions, creates an elegant form on the city skyline.”
“The material palette… is formulated around both long lasting and natural materials. This is seen to compliment the adjacent masonry heritage buildings, as well as speak to more lasting and substantive human values,” the statement added.
The tower will replace the historic cinema which has occupied the site since 1903.
A development application for the stage two assessment has been submitted to the City of Sydney.