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NSW Fast-Tracks $4.7bn in New Approvals


A $1.2 billion over-station development at the future Victoria Cross metro station in North Sydney has topped the latest list of projects to be fast-tracked by the NSW government.

The North Sydney development, along with 18 other state-significant projects valued at $4.7 billion, have been announced as part of the NSW governments third and latest tranche of fast-tracked assessments.

NSW premier Gladys Berejiklian and planning minister Rob Stokes, said the additional projects would further stimulate construction and assist in a state-wide economic recovery.

Other projects picked by the Berejiklian government include the development of a 60MW solar farm, a $64.3 million school in Sydney’s south-west, rezoning for the North Castle Hill Precinct and 5,000 new homes in Parkwood being delivered by developer Riverview.

Adding to the bill is Mulpha's $1 billion Norwest, a series of nine high-rise towers, ranging from eight to 26-storeys in the Hills.

The over-station tower slated for Victoria Cross station, being overseen by Lendlease, will include about 58,000sq m of office and retail space.

Policymakers also signed off on $10 million towards social housing with 41 affordable housing units to be considered in Gosford.

▲ The NSW government said the third batch of projects could create up to 30,000 jobs. Image: Artist's impression of the over-station tower slated for Victoria Cross station in North Sydney
▲ The NSW government said the third batch of projects could create up to 30,000 jobs. Image: Artist's impression of the over-station tower slated for Victoria Cross station in North Sydney


The latest announcement follows on from a slew of recent development approvals, with the first projects touted in late April including the multi-billion-dollar Snowy 2.0 pumped hydro project.

The second tranche brought forward soon after in late May included approval for $2.6 billion plans to rezone Mamre Road in Western Sydney’s Aerotropolis.

To date, 48 major projects have had their assessments finalised through the program.

“So far this program has unlocked $1 billion of economic investment a week – far surpassing any other state’s planning acceleration programs,” Stokes said.

“We’re establishing a new normal for the NSW planning system, with faster decision making and simpler processes.”

The NSW government estimates that $13 billion in economic benefit will be injected into the economy, while delivering 8,000 new homes, infrastructure and public space.

The NSW government wants the latest fast-track assessments completed by 17 July.

If approved, Berejiklian said the state government would hit its jobs target in three months instead of six.

A list of the fast-tracked projects is available here.

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Article originally posted at: https://theurbandeveloper.com/articles/nsw-fast-tracks-a-further-47bn-of-projects-