The Sammut Group says the recently approved, $350 million Northern Gateway development will provide a boost for other Cronulla businesses.
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An entire block opposite the northern end of the mall, totalling 5225 square metres, will be transformed for the project, called Vue.
It will be the first major urban renewal project at that end of the CBD since the Sur Mer-Northies hotel development in 1999.
Chief executive Allen Sammut said the project would "bring a whole new life to our CBD".
"After a very tough few years for the local traders and retailers in the centre of Cronulla, we hope they will see this as the start of a great new time of growth and renewal. " he said.
"The approval for our Vue project gives us the chance to effectively 'bookend' Cronulla mall with the highest level of design quality, and two very significant projects that will generate vibrancy and buzz, which the area sorely needs."
The company is also partnering the Feros Group in the Parc development at the Southern Gateway.
The Vue development will include four levels of basement parking, a two-storey podium including ground-floor retail and first-floor commercial and two residential buildings.
There will be 112 one, two and three-bedroom apartments and 885sqm of commercial space to be sold not leased, including speciality shops and restaurants.
Full-line supermarket brand Harris Farm Markets will anchor the retail area. [An earlier report there would be a full-line supermarket plus Harris Farm was incorrect.]
"The project has a resort style feel featuring a large communal terrace with a pavilion and pool located at podium level, while street-level landscaping and upgrades to the public domain will bring new vitality to the daily experience of the area," Mr Sammut said.
Off-the-plan sales are expected to start in 2023.
Sammut Group chief operating officer Julian Sammut said approval by Sydney South Planning Panel gave the family business the chance to make a very positive contribution to their hometown.
"We are very conscious of the role we can play as a local family-operated firm that prides ourselves on having a commitment to quality in our DNA," he said.
"When completed, Vue will become one of Cronulla's iconic buildings. It is a great gateway development for the area and will provide amenities to everyone in the Sutherland Shire community.
"To be able to bring Harris Farm to the Shire - and help them deliver what will be their flagship store - is a huge positive and we're excited about the job opportunities that will come along with that.
"The inclusion of Harris Farm as part of the offering had already generated significant enquiry for the additional retail spaces in the project."
Vue has been designed by PBD Architects.