This article is from the Australian Property Journal archive
AROUND 27,000 new homes and 56,000 more people are expected to live along the Parramatta Road under the plans revealed by the New South Wales government.
After three years of consultation, Minister for Planning Rob Stokes said the Strategy will support growth and make the Parramatta Road Corridor a better place to live.
The corridor will provide 27,000 new homes and 50,000 new jobs and an additional 56,000 people are projected move there over the next 30 years.
“Sydney is growing and we need to plan for the needs of population growth so that it is supported by public transport, social infrastructure, open space, and amenity improvements. This Strategy and supporting documents do just that,” Minister Stokes said.
The strategy is supported by a $198m Government funding package to stimulate growth and change in the corridor including streetscape upgrades, creation of new or improved open spaces, urban plazas and town squares, and new walking and cycling links to key transport nodes and open space.
The key benefits of the strategy include $58 billion dollars of development value across the recommended mix of land uses over 30 years and $31.4 billion of development over the next 20 years.
The strategy does not rezone land. It is a policy framework and government agencies, councils and landowners will be required to refer to the strategy when proposing land use or transport changes or projects.
The strategy’s Implementation Plan 2016-2023 identifies small areas that can be rezoned in the next seven years, subject to the identified infrastructure being in place.
Australian Property Journal
