A major urban renewal project in south-west Sydney has finally taken a significant step forward after nearly a decade of bureaucratic hurdles.
The $9-billion Moore Point project, which aims to transform a “shabby” industrial zone into a new city, has been placed on public exhibition.
Developer Coronation Property first lodged plans for the project, which has been estimated could generate up to $27.9 billion in economic activity once complete, in 2015.
It would deliver 11,000 homes and create 23,000 jobs, and includes a new public school, pedestrian bridges, riverfront walking and cycling paths, and 10ha of parks and green spaces.
Around 2500 build-to-rent apartments would also be included and be operated by Coronation’s property management arm, Nation.
Additions to the original proposal include the designation of 400 apartments managed by affordable housing provider Evolve Housing for frontline health and allied-care workers at nearby Liverpool Hospital.
According to Coronation, the project would account for 11,000 of the 16,700 new homes set as a target by the NSW government for the Liverpool area.
Coronation managing director Joe Nahas said the project would “be the jewel in the crown for south-western Sydney ... in an area where the dire shortage of housing is failing to keep up with the growing needs of the community”.
Flooding concerns have been high on the list of hurdles the project has faced.
Despite previous flood studies and assessments, the NSW Planning Department has ordered the developers conduct new flood studies, which have been estimated will take 18 months to complete.
The project, in an area that has no record of flooding, was assessed and cleared by the NSW Flood Advisory Panel last year.
The delays prompted the developer to issue an ultimatum to NSW Premier Chris Minns, according to other media, threatening to abandon the project if a solution was not found.
Nahas expressed frustration with ongoing delays that threatened “to throw away 10 years of investment and effort” but said the project could help the Minns Government achieve its goal of building more housing in well-connected areas.
‘‘We need the government to work with its departments and industry stakeholders and take decisive actions that get rid of the obstacles that have resulted in too many major projects being stuck in the system,’’ Nahas said.
Liverpool Mayor Ned Mannoun criticised the NSW Government for its lack of support for the project, highlighting the contrast with the rapid progress of other developments such as the Rosehill racecourse redevelopment.
“It’s amazing how Rosehill can get support from the Premier when no application has been lodged, yet something that’s been worked on for 10 years and is south-west Sydney’s biggest opportunity in years gets zero government support,” Mannoun said.
The development is now on exhibition for public feedback. If planning approvals happen within the next 12 months, Coronation said, it can begin construction by the end of 2025, with the first apartments completed by the end of 2027.
