NSW Fast-Tracks $4.7bn in New Approvals
- By Peter Gordon
- •
- 29 Jun, 2020
Great article talking about the billions of dollars about to be invested in infrastructure in NSW. So, if you've been thinking of purchasing your first home in Sydney, there's never been a better time to buy. Also, if you're eligible you may be able to receive the Federal & State grants, stamp duty concessions and rebates to assist you in purchasing your own home.
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 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.
Article courtesy The Urbane Developer 22/6/20
If you've been thinking of purchasing your first home in Sydney, there's never been a better time. If you're eligible you may be able to receive the Federal & State grants, stamp duty concessions and rebates to assist you in purchasing your own home.
Contact us we will show you how you can access the following in NSW and what you need to do.
- $25,000 Homebuilder Grant
- $10,000 First Homeowners Grant
- Stamp Duty concession up to $24,682
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Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).
Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.
Time magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time magazine?). But they might be onto something.
Time points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.
Time’s most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).
A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.