Waiting for $31 billion Parramatta Rd redevelopment plan to drop

Editorials on the $31 Billion Redevelopment Plan for Parramatta Rd in both the Sydney Morning Herald and The Courier Mail talk of it’s imminent release today.

The SMH article by James Robertson and Sean Nicholls says “The new plan drops density targets in a number of Sydney suburbs, with 7000 fewer dwellings in Homebush – or 40 per cent – but the number of jobs forecast will more than double. The plan forecasts an additional 50,000 jobs in the area from Homebush to Haberfield.” And that “Councils, whose negotiations with the state government on the project have previously been frayed, will now be directed to comply with the strategy even in the many instances in which it conflicts with their own development plans.”

We are curious to see how closely this redevelopment plan mirrors a project we worked on way back in 2001-02 with CHROFI and McGregor Coxall – Parramatta Road Strategic Plan – Sydney. We are also eager to understand how the new Redevelopment Plan proposes to densify the corridor along the finer-grained inner suburbs, areas such as Annandale where our speculative project Graduate Housing – Annandale is located.

Ian Paterson of the The Courier Mail goes on to say “Parramatta Rd will become one of Sydney’s biggest boom areas” stating “About 27,000 homes will be built and 50,000 jobs will be created over the next 30 years, with expectations an additional 56,000 people will choose to live along the new tree-lined boulevard that will be overlooked by towering apartment blocks.”

Watch the Urban Growth website HERE and the Greater Sydney Commission website HERE.