WestConnex infrastructure project good news for urban renewal efforts

25.9.13After being announced in October 2012, the WestConnex infrastructure solution for Sydney is finally going to get underway, which is great news for property development throughout the New South Wales capital.

Offered as a solution to the congestion that often plagues Sydney’s east-west spine, the project is expected to help relieve the existing infrastructure while preparing the city for the incoming population boom.

With an estimated 40.3 million passengers passing through Sydney Airport by 2035, and a population growth of 235,000 people by 2031, taking the required steps now to prepare for the future has been praised.

Urban Taskforce has stated that the project is a major benchmark for urban overhaul, with Chief Executive Officer Chris Johnson saying that the project will open up the space for 100,000 new apartments and 100,000 more jobs – which could be great news for potential property investors.

“There is real opportunity for the NSW Government to champion a new direction for urban renewal by defining a 21st century approach to zoning, to encourage mixed use development that leads to a dynamic urban environment,” said Mr Johnson in a September 19 statement.

“There is a big trend in Sydney towards urban living in apartments and if this is linked with work locations and community amenities, we can handle significant parts of our growing population along Parramatta Road.”

This sentiment is echoed by the NSW Executive Director of the Property Council Glenn Byres, who said that the development will provide a critical link between east and west Sydney, allowing for more urban renewal opportunities across the city.

“It can unleash investment in new jobs and housing – coupled with better amenity – that should enthuse people frustrated by previous attempts to revitalise the corridor,” said Mr Byres in a September 19 statement.

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