It is set to be a massive year for Sydney with Sydney’s chief planning body confirming $2.8 billion worth of building developments will be underway this year.
Lord Mayor Clover Moore told Sydney Media that some of the biggest developments such as the $660 million
AMP Circular Quay Precinct and $97 million stage-one campus of the University of Sydney master plan will create jobs and increase investment in the city.
Artist's impression of Quay Quarter Tower[/caption]“As these projects get underway or are completed they are helping create jobs in a range of industries, attracting new investors and businesses, and reinforcing our place as a global city,” Mr Moore said.
“This record year of private investment and development comes ahead of work beginning on the extension of the light rail network. The City has committed $220 million to this project, which will be the biggest change to Sydney’s transport in generations.
“The light rail project will give Sydney a world-class main street and support new flagship retail outlets, premium-grade office buildings, and cafés and outdoor dining. We’re already seeing businesses flock to George Street in anticipation of the benefits it will bring.”
Other anticipated major developments consist of a hotel-residential development on Kent Street costing $100 million and a residential building in Potts Point costing $50 million.
In south Sydney, developments costing $530 million are currently taking place in
10,000 apartments will be built in the area during next four years, which will also see the arrival of 54,000 residents and 20,000 workers.