The New South Wales government’s $20 billion-plus metro rail line has the potential to unlock “tens of billions of dollars” in housing development, according to developer lobby group the Urban Taskforce.
Premier Gladys Berejiklian unveiled the exact locations for seven new railway stations on Monday as part of the third stage of the government’s greater Sydney Metro project.
Metro stations will be built at Westmead, Parramatta, North Strathfield, Burwood North, Five Dock, Sydney Olympic Park and the Bays Precinct.
Urban Taskforce chief executive Chris Johnson said that the announcement was highly anticipated.
“The development sector has been planning for this announcement and the certainty it provides could spark a generation of construction-related employment.”
Transport minister Andrew Constance estimated that construction of the Sydney Metro West would create around 10,000 direct and 70,000 indirect jobs.
“It is absolutely critical that this massive investment in transport infrastructure and capacity building is complemented by plans for appropriate development around the new railway stations, in addition to existing rail and metro stations,” Johnson said.
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Along with the seven confirmed station locations, the NSW government is also investigating the location of a new CBD station and the feasibility of metro stations in Pyrmont and Rydalmere.
Johnson said that the location of a metro station at Pyrmont was a “no-brainer”.
“A metro station at Pyrmont [is a] common-sense response to serving the current and future needs of one of our most populous and vibrant inner-city suburbs and employment centres,” Johnson said.
Sydney Business Chamber executive director Katherine O’Regan urged the government to lock in a Pyrmont metro station.
“Along with the seven stations on the table, a stop at Pyrmont is a necessity as the successful revitalisation of the Pyrmont peninsular is dependent on having better transport to bring service workers, visitors and tourists to the new western gateway to the CBD,” O’Regan said.
Construction work will begin next year, commencing at the Bays Precinct, to prepare the site for major tunnelling works with work slated for completion by 2030.
The government will acquire 93 commercial businesses and 23 homes as part of the metro corridor’s construction.
