Former industrial precincts to become residential hubs
The New South Wales government has announced plans to turn two former industrial areas in north west Sydney into major developments for residential properties.
The 18 hectare Wentworth Point precinct in Sydney's inner west and the Herring Road precinct at the norther end of Macquarie Park will both undergo a transformation into thriving residential areas with plenty of public amenities.
According to Planning Minister Pru Goward, the projects demonstrate the city's commitment to creating affordable housing, as well as its vision of using underutilised land close to transport services and employment opportunities.
Both precincts will benefit from recently announced infrastructure projects, such as the WestConnex motorway extensions and the North West Rail Link, which will ease congestion in the Harbour City while also providing easy transportation links to the rest of the city.
Wentworth Point to start "immediately"
Construction in the Wentworth Point precinct has been granted approval to begin immediately, with Herring Road placed on display for public comment until August 10.
It will see two residential neighbourhoods constructed, totalling around 2,300 apartments. These will include six buildings of up to 25 storeys, as well as buildings up to seven storeys on the waterfront.
The area will also receive a number of major upgrades and improvements to public amenities that will no doubt make buying a house in Sydney a high priority for many.
A 3.9 hectare park is planned to provide a protective area for native vegetation, as well as recreational opportunities for residents. Along with this, three pocket parks of 2,000 square metres each will be created.
Construction is also expected to begin on a new landscaped foreshore with pedestrian and cycle paths linking Sydney to an upgraded Olympic Park, along with a maritime plaza for shoppers. A marina is even planned in the future, with boating, rowing and kayaking facilities included.
With Herring Bay further away from construction, less is planned at this stage. The area will, however, provide new retail opportunities and utilise existing infrastructure, such as bus services and the Macquarie Park Station.
West Sydney attractive for first time buyers
Western areas of the Harbour City are looking increasingly attractive to buyers hoping to make their way into the city's housing market.
The projects are part of an effort to satiate growing demand for property in the area. According to the New South Wales government, by the mid-2030s, one in two Sydney residents will reside in Western Sydney. By 2031, its population is expected to climb to over 1.5 million people.
With imminent growth on the horizon, it may pay to get in early on the Western Sydney housing construction trend. The construction is tipped to create 7,700 houses in total.