Hot Property meets reality TV as Nine sizes up its Block The Nine Network is unveiling plans next week to redevelop its landmark headquarters on the lower north shore. A model of the $200 million-plus development on 2.9 hectares of prime land will be on display from next Wednesday at Willoughby Council. It comprises 585 dwellings nestled around the controversial television transmission tower. The plans, created by architect SJB, comprise two apartment blocks of 18 and 14 storeys and about 300 townhouses in and around Artarmon Road and Scott Street, Willoughby. Plans to unlock significant cash from the Nine Network's balance sheet through the sale of the sought-after location, complete with city and harbour views, have been on the drawing board for some time. A number of developers have looked at the proposal over the years, including Charter Hall Group, but the numbers did not stack up. However, with the property sector showing signs of improvement, the idea is gaining momentum. There are no immediate plans to move but property experts said a sale would unlock upwards of $200 million for David Gyngell's Nine Entertainment, which revealed a loss of $972 million for the last financial year. In financial reports released to the corporate regulator in December, Nine confirmed its numbers included a $783 million write-down on the value of its media assets, taking its total accumulated losses to more than $2.5 billion. But while potential home-buyers will be keen to get a foothold on prime land, the locals are not overly excited. Willoughby Mayor Pat Reilly said the council believed the scale and density of the development was excessive. "The large number of dwellings proposed is likely to have a significant impact on surrounding residents, as well as the Willoughby community in terms of traffic movement and increased demand on public facilities, particularly schools which are already overcrowded," he said. I certainly encourage the wider community to take the opportunity to view the submission. There have been concerns about keeping the transmission tower in place. It is owned by the Nine, Ten and Seven networks and is still operational. The former ABC land at Gore Hill, which is now a commercial/business park, also kept its tower. Scott Soutar, the station manager for the Nine Network, confirmed that the development plans were progressing. He said the many issues that had been raised about the transmission tower "had been addressed" through an extensive survey. "The Nine Network cannot make any valid or bona fide decisions about its long-term location until it understands the value of the site and land assets at Artarmon," Mr Soutar said. He said the network had carried out a study and completed the required work to ensure the tower was safe. Key to the design is the way the buildings will be placed around the transmission tower. Given it's owned by three parties, it's a consultation process. But we have undertaken significant work to ensure it is safe for residential development.