CONSTRUCTION has begun on a new $300 million residential tower in Parramatta.
V by Crown will feature a hotel, 420 apartments, office and retail space.
The new addition is seen by its creators as the start of Parramatta's urban rejuvenation.
Crown Group executive Iwan Sunito said the building will be a community in itself.
"We believe it's particularly fitting for a place that saw the early beginnings of Australia's contemporary society, that the landmark building in Parramatta urban rejuvenation is a vertical village," Mr Sunito said.
"It represents the beginning of a significant chapter in the built history of one of Australia's most historic communities.
"The building will be a 21st century state-of-the-art community."
An archaeological dig on the site uncovered the remains of a 1840s house and underlying convict hut.
The two V-shaped columns at ground level will ensure the remains are preserved on the site.
Artifacts will be on public display in an interpretation centre.