This article is from the Australian Property Journal archive
UP to 800,000 sqm of commercial and office space will be developed in Pyrmont’s waterfront.
The NSW government has unveiled the draft Pyrmont Peninsula Place Strategy and Economic Development Strategy, a new 20-year vision to create up 23,000 new jobs and 800,000 sqm of commercial space for the hi-tech, tourism, media and information industries.
Treasurer Dominic Perrottet and Minister for Planning Rob Stokes said the proposal is part of the government’s COVID Recovery Plan.
The strategy considers big moves for transformation such as a potential metro station at Pyrmont as part of the Sydney Metro West project, a new indoor sports and entertainment venue like our own Madison Square Garden, more and better public spaces (including the return of Wentworth Park as local parkland) and the revitalisation of key sites to attract commercial investment.
“Great cities evolve, grow and continue to improve all the time, and our vision is to ensure Pyrmont leads Sydney as a home for innovation, employment and entertainment as well as retaining its unique character,” Perrottet said.
Stokes added that Pyrmont has always been an extension of the CBD as a bustling hub for a variety of industries, and the draft strategy outlines the latest incarnation in the peninsula’s renewal.
“This new vision builds upon that. As well as a jobs hub of the future, we want the peninsula to be a premier cultural and entertainment destination which is connected to museums, theatres, bars and cafes, the Sydney Fish Market, the ICC, Harbourside and The Star.
“It has the potential to be a 24/7 destination for locals and visitors alike within walking distance from the city. Pyrmont is more than a local village – it is a vital part of our global city.”
Stokes said the revitalisation will focus on key sites for renewal, including the existing Sydney Fish Market site at Blackwattle Bay, The Star site at Darling Island, development of Harbourside Shopping Centre, and the UTS Haymarket campus.
“These sites have been identified for revitalisation over the next 20 years and we are keen to ensure that parks, public spaces and the unique character of Pyrmont is protected,” he concluded.
Committee for Sydney CEO Gabriel Metcalf said welcomed the announcement, adding that the Pyrmont has enormous potential and this strategy maps out how to achieve that.
“We believe that Pyrmont has an important part to play in Sydney’s economic revival post-COVID. Allowing more growth, supported by additional infrastructure such as a Metro stop, will help to make this a reality.
“Creating this strategy was a complex task and all those involved should be proud of creating a robust vision. Government has made some big decisions that will benefit Pyrmont and the rest of Sydney for generations to come.” Metcalf said.
