Something new and exciting is coming to Sydney!
Sydney’s Circular Quay is being revamped. The NSW government has committed a whopping $200 million towards this project as part of its budget!
The ferry docks and railway station will undergo significant improvements due to the government’s plans, which are included in the budget, which will be announced on June 21. Additionally, a portion of the Cahill Expressway will be transformed into a green space similar to New York’s High Line.
The Sydney Harbour Bridge and Sydney Opera House, two of the country’s most famous sites, will be visible to walkers from the new multi-level observation platforms!
This massive revamp of Circular Quay comes after the Cities Minister Rob Stokes stated a revamp of the area would be undertaken with the community in mind.
“For too long, Circular Quay has not lived up to its potential, but this plan will see Sydney have the front door it deserves and better reflects the spectacular city we live in,” Stokes said.
Circular Quay was a popular waterfront site among Sydney’s 15 million annual average tourists before the pandemic.
New ferry piers will be constructed as part of the improvements to give passengers a more comfortable ride and more room to enjoy the harbour. There will also make improvements to the entrances, signage, escalators, and elevators at the train station.
As shown in the Circular Quay concept designs, a portion of the Cahill Expressway would be transformed into a green public area, adding new viewing platforms.
The NSW Premier Domenic Perrotett says that these changes will enhance the area and create one of the world’s truly great walks for NSW residents and visitors alike.
Before the government makes a final commercial decision, the funds, according to Treasurer Matt Kean, will be used for preliminary design work, planning permissions, and a community input process.
“This renewal would create a more dynamic space for visitors and locals to enjoy new places to eat, drink and shop,” Kean said.
“Our vision for Circular Quay would transform the world’s gateway to Australia and provide a truly unique experience, as the number of visitors to Sydney returns to the 15 million we welcomed annually before Covid-19.”
A bonus of this project is that it’s estimated to create up to 1000 jobs during the construction phases, which will help decrease the unemployment rates in NSW and boost the NSW and Australian Tourism economy!
The announcement comes on the heels of a $60 million plan to construct a 90-kilometre path around Sydney’s shoreline and connect the Opera House to Parramatta Park. The upcoming changes to the green expressway are also expected to be joined to this walking track!
In light of this announcement, this the perfect time to jump into the investment market to benefit from these redevelopments!
Our team at Liviti, will help match you to your perfect property to secure financial freedom! Contact us today.