SYDNEY, AUSTRALIA.-Once the street used to resemble a ghost town on a Saturday - now it is a mass of families enjoying lazy breakfasts, browsing through galleries and choosing from world class provisions. Once a mass of derelict buildings and crumbling warehouses, Danks Street, Waterloo, is today the hub of a thriving community in the heart of the City's south.

A community festival on Sunday 23 October will showcase this tiny tree lined street of successful family owned businesses, galleries, award winning cafes and fantastic fresh and imported produce, supplying some of Sydney's finest restaurants.

The Danks Street Festival will build on the reputation of this vibrant and happening community with fine foods, gallery viewings, wine tasting, ambient music and entertainment for the kids

Pivotal to the success of the Street has been the development of 2 Danks St which was bought by Leo Christie in the late 1990s. The street's business owners argue that the Danks Street renaissance is wholly attributable to the success of this venture.

The long search by Leo and his associates for a suitable space in which to open Galleries ended when the old Kodak Building, heavily damaged by a hail storm, became available.

It was a major investment to undertake in the industrial heart of Waterloo - but success has built upon success.

When 2 Danks Street finally opened for business four years ago, five galleries had moved in. The 2,000 or more people that crammed in on opening night highlighted the need for quality exhibition space in this part of Sydney.

Described by Leo as "arguably the best gallery space in Australia," Danks Street enjoys a reputation for showcasing the best in contemporary Australian and international art, with 10 galleries exhibiting permanently under the one roof. Exhibition space is so highly sought after that Leo has never had to advertise for tenants - acquiring Gallery space at Danks Street is strictly by invitation only these days.

"The 10 different galleries are always having new exhibitions and so visually and creatively it is stimulating, there is always something different to see", comments Leo.

When May+Swan Architects began work on the derelict building they were keen to ensure that it served as a backdrop to the artwork. It took 12 months to strip everything back until just the core roof structure and walls remained.

Today, first time visitors to 2 Danks Street are immediately struck by the feeling of space, high ceilings and the use of natural light in the exhibition spacesa relaxing oasis in the hub of the City.

Described by the Gallery owners as being "like Soho" in New York or as being European in feel, the Gallery owners themselves speak with passion and enthusiasm about the development and it is clear that they are appreciative of the unique environment in which they work.