Further Development For Sydney’s Inner City In The Works
Sydney’s inner city is set for further redevelopment in the near future as plans for a $709 million revitalisation of Haymarket has just been given the green light/go ahead, which could be great news for the city’s overall growth in the coming years.
Located at the southern end of the central business district, Haymarket is adjacent to Darling Harbour and includes much of Sydney’s Chinatown, Thai Town and Railway Square localities. It’s an integral part of the central business district and this redevelopment could do wonders for the district.
New South Wales Minister for Planning and Infrastructure Brad Hazzard welcomed the concept plans for the area, stating that it was a key component of the new Sydney International Convention, Exhibition and Entertainment Precinct (SICEEP).
The SICEEP is aimed at becoming a premier gathering place for the convention and exhibition industries in Sydney, as well as providing a number of residential and commercial opportunities for buyers in the region.
“This is a green light for planning and full steam ahead for the remaking of Haymarket as part of our magnificent world city,” said Mr Hazzard in a December 8 statement.
“This new vibrant neighbourhood will help meet local housing demand for residents and students wanting the best of urban life and also be enjoyed by visitors attending conventions in Darling Harbour, who want a Sydney experience.”
For example, there will be nearly 150,000 square metres of residential space available for development, with the capacity to accommodate around 1,360 new dwellings and 422 student accommodation spaces.
A further 50,000 square metres will be dedicated to growing the commercial and retail presence in the area. During construction, the project will provide over 2,000 building and planning jobs, with another 2,000 ongoing jobs following completion.