The $3 billion transformation of Sydney’s unloved Central Station precinct into an innovative tech hub is entering its final phase, with plans lodged to include three new office towers and expansive outdoor public space.

Spanning the western edge of Central Station, the planned Central Place Sydney is being developed by Dexus and Frasers Property Australia and has been called by the NSW government the “beating heart” of its new Tech Central precinct.

The joint venture partners lodged the final development application (DA) submission to the City of Sydney on Tuesday and once completed it will comprise two large-scale office towers, a smaller 10-storey block called the Connector, a public space known as the Pavilion and a five-star hotel.

The site sits adjacent to the planned 40-storey Atlassian building, being developed and funded by Dexus, and when completed Central Place Sydney will account for just over half of the NSW government’s 250,000 square metres of office space earmarked for technology and innovation businesses.

To revitalise Sydney city’s unloved southern precinct into its former glory as the gateway to the CBD and to spur a 24-hour economy, the state government in August last year gave the green light to significantly increase the building heights in the area.

The NSW government’s Tech Central will eventually cover six neighbourhoods including Haymarket, Surry Hills, Ultimo, Redfern, Chippendale and Eveleigh, and will cater for students at the nearby universities.

Kimberley Jackson, project director for Central Place Sydney, says the new design elements lodged with the City of Sydney complete the vision for Central Place Sydney as a “dynamic space where work and lifestyle blend seamlessly and sustainably”.

“These finalised designs have been specifically created to help tech and innovation businesses take on tomorrow by creating a space that combines the lifestyle amenities, connectivity and opportunities to collaborate,” Ms Jackson said.