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Height-to-shoulder CBD,Pyrmont Peninsula will be a New Hot Land for Real Estate

 15 Nov 2018

Sydney`s Pyrmont will one day be able to reach the same height and density as adjacent high-rise buildings, and the current Sydney CBD will extend to the Pyrmont Peninsula in 2040, according to the new development vision.

Urban Taskforce, a developer lobby group, supported the development of the Pyrmont Peninsula as Sydney`s next high-rise building centre, supporting increased development density in the area as a support for Sydney`s CBD.

LAVA, a Sydney-based architecture firm, released images based on that vision, showing a new look at Pyrmont as Sydney`s 8 million people reach 8 million in the next 40 years.

`We need a long-term plan to continue Sydney`s position as the world`s leading city, `said Urban Taskforce CEO Chris Johnson.

"We think the Pyrmont Peninsula next to Sydney`s CBD is a real mixed-use area with entertainment facilities and hotels, but also the focus of IT and creative industries," Johnson said.

"what we need now is a new vision of the Pyrmont Peninsula, upgrading it to a prosperous mixed-use area parallel to Sydney`s CBD Peninsula."

Johnson says the latest developments in the region are a step in the right direction. "the proposed 61-storey Star casino tower, and the Harbourside tower, began to redefine the height of the Pyrmont peninsula." Blackwattle

The announcement of the new site design for the Bay Fish Market means that the existing site will be redeveloped, possibly a high-rise apartment, while in Powe

Once the House Museum is moved to Parramatta, its original site may be used for new development projects. "

A new picture of the new location of the Blackwattle Bay Fish Market was released last week, and the design includes a new public wharf, promenade and ferry terminal.

"in addition to the new building in the vicinity of Star casino and the potential development of Harbourside, Pyrmont is being injected with new energy. The re-development of the Powerhouse Museum will also add new vitality to the revival of Pyrmont."

The controversial Star casino development application was submitted in August, and the new state of government is considering reopening the Powerhouse Museum`s Ultimo site for rezone,, to develop more than 100 apartments.

Johnson said the Pyrmont Peninsula will support Bays Precinct`s long-term development proposal.

"obviously, public transport is critical to these newly developed sites, so we support the location of the station on the Metro West Subway, as it passes through Bays.

Precinct and Sydney Olympic Park, and all the way to the location of Parramatta.Metro Station, should be able to meet the needs of the Star casino and new fish markets. There are also opportunities to operate more ferry connections between CBD and the Pyrmont Peninsula. "

*This article does not represent the views of us.

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