NSW Premier Mike Baird has announced plans to redevelop a 5.5km stretch of waterfront land stretching from the Sydney Fish Market to the heritage-listed White Bay Power Station and the area beside the city’s second cruise liner terminal in Rozelle, four times the size of the $6 billion Barangaroo project.
The Premier described the 80-hectare area of government-owned land, dubbed the Bays Precinct, as “underutilised and degraded waterfront” and “urban wasteland”. It will be the city’s largest urban renewal program since the Sydney Olympics and is just 2km from the CBD.
The precinct, which is also currently home for the temporary Sydney exhibition centre, will include housing recreation, retail, tourism, commercial and maritime facilities, as well as the long-awaited redevelopment of the Sydney Fish Market.
The Government will host an international summit in November, coinciding with the G20 Summit in Brisbane, to hear from world experts in urban renewal to canvas how to revitalise the area.
“The Bays Precinct is just two kilometres west of the Sydney CBD, and presents possibly the most exciting and ambitious urban renewal and city building opportunity in the world today,” Mr Baird said.
The redevelopment is expected to take 30 years and will finally revitalise the disused and derelict White Bay power station.
UrbanGrowth NSW, the government’s urban renewal authority, will lead the project.
They explain the project below