It seems like there is an endless procession of new infrastructure projects being planned for Sydney at the moment. Not only is there currently $42.9 billion dollars of construction underway, scheduled to be completed by 2023, in the following research there is another $14 billion of proposed works yet to begin.
The following article reviews the future infrastructure projects that will shape Sydney for the next generation.
Proposed / Possible Future Projects
Western Sydney Airport
Located at Badgerys Creek; 70 kilometres from the CBD, Sydney’s second airport has finally been given the green light after decades of debate. The estimated project value is circa $2.5 billion and is set to generate 4,000 jobs in the construction phase alone. The airport is set to open in 2025 where the first stage will be able to handle approximately 10 million passengers a year and eventually being able to accommodate 82 million passengers and the addition of a second parallel runway by completion in 2025.
Parramatta Urban Growth Project
With a rapidly growing population, Parramatta has been earmarked as an area of urban renewal and as such, the Parramatta Urban Growth Project aims to create a mixed-use precinct that includes the refurbishment of Cumberland Hospital, Parramatta Stadium, Parramatta Park as well as the Kings School.
The Spit Bridge on Spit Road is arguably one of the most congested and loathed traffic areas within Sydney. It’s the only road connection between the North Shore and Northern Beaches. For many years, there has been much talk and ideas aplenty in relation to alternatives for the troublesome roadway. One of the more recent of these alternative ideas has been to construct a bridge that would bypass the bridge at an estimated cost of $2 billion. The proposed tunnel and roadway could possibly span from the M1 at Neutral Bay to Balgowlah.
Western Metro Rail Line
As mentioned earlier, Western Sydney is the city’s largest growing metro area, and even though a rail line from Parramatta to the CBD already exists, another one would be a good implementation in order to expand capacity and future proof what is already one of Sydney Trains busiest routes. If given the green light, the project would have an estimated cost of circa $10 billion. In addition, the project could also be extended to Badgerys Creek Airport.
Nepean Hospital Upgrade
Before former NSW Premier Mike Baird resigned earlier in January this year, his government announced a very much needed $576 million upgrade to Nepean Hospital in Sydney’s west. The upgrade would see the addition of a new emergency department and 200 more beds as well as 12 birthing suites and 10 operating theatres.
Each project will affect their local areas with jobs, shops, homes and facilities. With the forecast of 87,807 people per year moving to Sydney alone, it is easy to see that supply is going to continue to struggle to meet the demand. Now is an ideal time to get in to the property market in Sydney.
At Kanebridge we regularly monitor the projects that are coming through the state and council planning departments, so that we can continue to make sound judgements on the investments we make.
Author: Marwan Rahme
CEO, Kanebridge Limited
This research was conducted by SQM Research.