This 79-Storey Sydney Skyscraper Could Soon Be the City's Tallest Residential Building

Sydney's city skyline is about to gain two dazzling new additions: a 50-storey glass skyscraper, announced earlier this year, and Sydney's tallest residential building on George Street.

The latter, announced just last week, will be a 270-metre-tall, 79-storey tower taking over the space at 505-523 George Street. It'll come in just shy of the Sydney Tower, which measures 309 metres at its tallest point. Currently home to Event Cinemas, the space will be transformed into a mixed-use tower with residential, retail, a hotel and childcare facilities.

Film fans can breathe a sigh of relief, too, as The Urban Developer reports that the cinema is a subject to a long-term lease and will remain part of the new design.

Mirvac and Coombes Property, who bought the site in 2009 for $85 million, announced last week that Ingenhoven and Architectus had submitted the winning design for the space, beating five other international design firms. German firm Ingenhoven is best known for its stunning Marina One complex in Singapore, and recently collaboration with Sydney's Architectus to build the 28-storey high-rise at 1 Bligh Street.

As well as an eye-catching design, the new George Street tower will have an environmentally sustainable edge. Solar panels will generate the building's electricity and domestic hot water and it will predominantly be constructed from materials sourced locally.

The skyscraper will begin construction at 505-523 George Street in 2020.

Renders: Courtesy of Ingenhoven Architects and Doug and Wolf