Barangaroo Development

Ms CARMEL TEBBUTT: Will the Minister for Planning update the House on the Government's strategy for the delivery of new development at Barangaroo?

Mr FRANK SARTOR: I thank the member for Marrickville for her constant interest in the urban renewal of inner Sydney. The Barangaroo site is of great interest to Sydneysiders. It also epitomises the difference between the Government and the Opposition. Not one single issue shows the enormous gap between a government getting things done and an opposition which is faffing around doing nothing.

Mr Steve Whan: A policy-free zone.

Mr FRANK SARTOR: A policy free zone. On the one hand the Government is putting forward this major urban renewal project that will heal the city's foreshores, provide $2.5 billion in investment, allow for the growth of the central business district into the future and incorporate best practice environmental sustainability, and on the other hand what do we have from the Opposition? Nothing, niente, zilch from the Opposition. I remind members that it is official as well. At the last election, only 15 months ago, the Opposition spokesman, when asked this question, said, "We don't support the planned redevelopment of east Darling Harbour. We will not be proceeding with it. We don't agree that the CBD needs expanding. We believe it's close to saturation point." Where will global Sydney go under the Opposition? Nowhere, and that sums it up.

This project, which I will say more about in a moment, is alongside other major urban renewal projects. Recently we had a joint venture with the City of Sydney for major housing in the inner city. We have CUB, a major state-of-the-art, world's best practice, environmentally sustainable development and, North Eveleigh, which is another major urban renewal project. We are making things happen in Sydney. One by one, step by step we are making things happen. Barangaroo is a much-needed commercial tourist and residential development. It is also a unique opportunity to reconnect 22 hectares of foreshore land on one of the world's most beautiful harbours to the world's most dynamic central business district.

Barangaroo will create a nexus between Sydney's economy, its spectacular natural setting and the city's tourist streets. The site presents close to 400,000 square metres of built space designed for commercial, retail, tourism and inner city living, and will involve an expansion of the central business district westward. In April this year the Iemma Government launched an international expression of interest campaign for a major portion of the southern development precinct, which accounts for about 80 per cent of Barangaroo's development potential. Advertisements appeared in the New York Times, the Financial Times of London, the South China Morning Post, the Gulf News, as well in the Australian media. When finally awarded, Barangaroo stage one will grant development rights to a company or consortia for the design, development and marketing of development blocks one to four on the site. This represents 322,000 square metres of commercial floor space. To put that into context, that is about 7 per cent of the total commercial floor space existing in central Sydney; about 40 per cent of the total commercial floor space existing in North Sydney; and over half the total commercial floor space existing in Parramatta.

This is a significant expansion in the global economy of Sydney. Notwithstanding the current gloomy economic output, the Government has had expressions of interest from a range of countries overseas. I am pleased to advise the House that, in fact, eight companies or consortia have lodged initial formal proposals. The Sydney Harbour Authority is currently coordinating a detailed evaluation of these applications and will recommend to the Government a short list of consortia to advance to the next stage of the selection process. I advise the House that the Government will be in a position to announce the short-listed consortia in the near future. The consortia included on the short list will be invited to take part in a detailed call for proposals and will develop and lodge their detailed schemes for the development of the southern commercial precinct. This list will be culled again and a final shortlist will be presented to the Government for selection. We expect construction of stage one by 2009, but there are other plans that are happening at Barangaroo as well.

Mr Chris Hartcher: Really? Tell more.

Mr FRANK SARTOR: I am about to tell the member for Terrigal if he would just listen. Former Prime Minister Paul Keating has been appointed chair of a Public Domain Review Panel and will advise on the design of the new headland park, the public domain, foreshore walkways and urban squares. Assisting Mr Keating is the director of the Museum of Contemporary Art, Leo Schofield, David Young, Oi Choong, the city architect and the former Government architect, Chris Johnson. Currently that group of experts is overseeing the process of preparing a design brief, which is close to finalisation. Within two months the Government will launch the second call for expressions of interest. We are bringing forward the public domain part of this project so we can be building that in parallel. There will be a headland park, a restored, healed part of Sydney that will be happening over the next couple of years whilst the commercial precinct is also being developed. This is bringing it forward and forward funding it so we are actually showing the people of Sydney that here is real public domain for the future.

The member for Vaucluse is nodding, but remember he opposed this project during the election. Now he is nodding. He admits he was wrong: he has privately told me 10 times he was wrong. He is not sure any more. Companies interested in designing the public domain will need to demonstrate they have the capability, experience, and so on to deliver a detailed design for the headland park at the northern end, an outline design for other public space at Barangaroo and technical guidelines to guide the design of all public spaces in their precinct. It is intended that the public domain be retained wholly in government ownership, while the development blocks will be subjected to a 99-year lease. The precinct will benefit from significant transport infrastructure, including the recently announced Metro line, with a new station close to Barangaroo, improved access to Wynyard station and city road upgrades. Those improvements will better connect Barangaroo to Sydney's central business district and suburbs for commuters, residents and tourists. This will be a fantastic part of Sydney and a fantastic urban renewal project, and it is happening along with these other inner city projects. It is happening. In the months and years ahead people will see it happening while the Opposition is still stuck at the starter's gate.