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Property News

$15bn Parramatta Road overhaul proposed

August 06, 2012

Sydneysiders with residential property in the city's west are likely to welcome a proposed plan to radically overhaul one of its most congested roads.

Plans being put together by Infrastructure NSW, have proposed a multibillion dollar project to dig up the congested Parramatta Road to accommodate an eight-lane motorway underneath.

As well as its intentions to redevelop Parramatta Road, Infrastructure NSW is expected to propose another M5 East tunnel and a road link connecting the F3 freeway and M2 motorway in the city's north.

The tollway project would radically transform Sydney's road network - providing relief to motorists and boosting the local economy.

Parramatta Road has been the bane of the city's infrastructure system for decades, and with plans to overhaul the major arterial route, land investment in the area might be appealing to homebuyers.
The project, which is expected to cost about $15 billion, is expected to be officially unveiled in Infrastructure NSW's release of its 20-year priority list next month.

"It is not secret that Infrastructure NSW is considering a range of motorway projects - and specifically the M3 and M5 - as part of developing a 20-year state infrastructure strategy," Fairfax Media reported a spokeswoman as saying.

"Infrastructure NSW is looking at a number of options that are aimed at one outcome: growing the NSW economy."

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