New development potential to contribute to Sustainable Sydney 2030 |
New development potential would by released by the City of Sydneys Sustainable Sydney 2030 plan which could help fund the removal of the Cahill Expressway, bury the Western Distributor and build over Central Railway Station.
Lord Mayor Clover Moore MP said initial, conservative estimates by the City of Sydney identify significant revenues that can be generated from the 2030 project ideas including at least one million square metres of development potential (floor space) valued at $8 billion. This potential could be used to contribute to the cost of essential infrastructure.
"The City of Sydneys proposals for Sustainable Sydney 2030 are the result of the most comprehensive consultations ever undertaken in this city: thousands of residents, business and government leaders, and experts in many fields were engaged in discussions about our Citys future,"Ms Moore said.
"Overwhelmingly, people told us they want a city that is sustainable - environmentally, economically, culturally and socially. Ninety-seven per cent wanted us to address global warming. The big levers to reduce green house gas emissions are city buildings, transport and power generation, and so Sustainable Sydney 2030 boldly tackles all three,"Ms Moore said.
Subject to further detailed design work, the Citys initial costing includes estimates for at least 500,000m2 of new commercial and residential development over Central Railway Station and 100,000m2 of development potential at the approaches to the Cahill Expressway created by its removal. At least 500,000m2 is created by burying the Western Distributor and additional development at Darling Harbour.
"Sydney is the economic and global gateway to Australia. Sydneysiders deserve a prosperous and vibrant City Centre to match its natural beauty,"Ms Moore said.
"As Australias global city, Sydney is a major driver of the national economy. Investing in Sydney ensures that all NSW - and the rest of the nation - will benefit.
"This is not a question of developing new sites on an ad-hoc basis. It is about reconnecting the City with the Harbour and reconfiguring the layout of the city so it operates more efficiently, reduces greenhouse gas emissions and strikes the right balance between open space, public space and sustainable buildings.
"In dollar terms, the City of Sydney already contributes over $2 billion (on 2004-05 figures) annually to NSW Government revenues. The City also generates 20 per cent of Australias tourism earnings from international visitors, amounting to about $3 billion a year.
"In total, we estimate that the 26 square kilometres of the City of Sydney generates a minimum of $7.5 billion in annual revenue to the Federal and State governments.
"There is also the Citys own capital works budget of $100 million-plus per year which, by 2030, will see an investment of over $2 billion in the City.
"Sustainable Sydney 2030 is about identifying and seeking widespread support for a green, global and connected future so that future government investment whether local, state or federal can be directed into making these projects a priority. These projects can happen, if we want them to happen.
"Sydney needs investment in sustainable and high quality open space just as it needs investment in all essential services such as hospitals and public transport. Its not a question of if, its a question of when.
"The use of new green technologies concentrated in these large urban redevelopment sites offers the biggest opportunities to reduce greenhouse gas emissions in Australia, and deliver on post - Kyoto targets,"Ms Moore said.
The Sustainable Sydney 2030 vision will be presented to Council on Monday 7 April with a six-week exhibition of the strategy and project ideas to take place commencing April 17.
People are urged to visit the exhibition from April 17 at Customs House in Circular Quay and to visit www.sydney2030.com.au
❊ Web Links ❊
➼ New development potential to contribute to Sustainable Sydney 2030
➼ Sydney Media - City of Sydney
➼ www.sydney2030.com.au
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