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Sydney to undergo billion dollar improvement scheme

On May 15 2012
Tagged as:
  • NSW


Plans to redevelop parts of Sydney have been unveiled, as nearly $1 billion will be invested in the ...

Plans to redevelop parts of Sydney have been unveiled, as nearly $1 billion will be invested in the area over the next decade.

A number of major projects are in the pipeline, including the construction of a low-carbon energy network and a new town centre for Green Square.

This could well encourage greater property investment in areas that may otherwise have fallen under the radar of buyers, as such regions become more lucrative on a long-term basis.

Lord mayor Clover Moore explained that people are attracted to Sydney for a number of reasons, with owners of commercial retail property taking advantage of the city's reputation as a global leader.

"It's our high-quality parks, healthy environment and diverse cultural life that attract people, but it's critical our transport network and infrastructure that also support growth," she commented.

Other initiatives include footpath reconstruction work, tree planting, upgrades to existing walkways and measures to calm traffic and encourage cycling.

This follows the announcement that residents of Green Square and Alexandria could soon benefit from improvements to Perry Park, which is set to receive better recreational facilities.

 



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