4 of the most impactful new transport developments happening in Sydney right now
Despite the ongoing COVID-19 pandemic, Sydney is still bustling with construction and its developments. Our ever-growing city is always welcoming new business, infrastructure and commercial and residential developments, so it’s unsurprising that 2020 is no different. Currently, Sydney is undergoing a huge infrastructure investment to build roads, expand light rails and develop new housing developments needed for its booming population. What has caused this population boom that now is causing the need for new developments?
New housing developments in Sydney are shaping the population
According to the City of Sydney, NSW’s population is projected to increase by 36.63% by 2041. This consistent rise in population is as a result of a very large number of new dwellings that are expected to be constructed.
- Green Square – City South – development began here in the late 1990s and is expected to have the largest amount of development with the construction of over 31,000 apartments during the forecast period.
Both of the below areas are also projected to experience large amounts of development.
- Redfern Street (11,600 dwellings)
- CBD & Harbour (8,800 dwellings)
- CBD South
As mentioned previously, these new developments have caused the population in Sydney and NSW to rise. This population expansion has made space for other developments, particularly transportation. In this article, we’ll be looking at 5 of the biggest developments happening in Sydney. We have included other developments not related to the population boom (directly) as they will also have a significant impact on the city.
4 new transport developments in Sydney
Western Sydney Airport
Construction of the Western Sydney Airport is expected to be completed in 2026, creating a series of jobs for the following 6 years. Employment targets for local workers are estimated to make up 30% during construction, and 50% once the project is complete. Apart from the construction of the airport, other impacts for the wider community include an influx of tourists after completion which will make way for the development of hotels and restaurants and further economic growth in the area. Additionally, international freight companies will ensure long-term growth in the region.
The M4-M5 link is expected to be completed and open in 2023. The project has created an estimated 10,000 jobs in the city, including jobs beyond construction such as finance, legal and training. The tunnel (22km) is technologically advanced with the allowance for GPS service underground. In addition to job creation, this tunnel has a practical impact for Sydney residents in that it links Haberfield with St Peters, providing a significant reduction in commute times.
When the Sydney Metro is completed, it will be 66km long and provide 31 stations across Sydney. In 2019, the first stage of the project was opened, Metro North West, which connected Tallawong to Chatswood. The second part of this stage, which is due to open in 2024, will connect the City with the SouthWest. The second stage will provide a direct link from Chatswood to Bankstown via the City.
Once the Metro opens, it will be one of Sydney’s greatest achievements. Of course, the construction of this massive project has created many jobs which will have a positive effect on the economy and to a lesser extent, the housing market. Linking previously poorly connected suburbs directly to the City and other major hubs will undoubtedly have a ripple effect on new housing developments around these suburbs as it makes them more attractive and accessible for potential residents.
Parramatta Light Rail
The Parramatta Light Rail will consist of 16 station tracks from Westmead to Carlingford. Although the second stage is not confirmed, the first stage will again, better connect suburbs and create jobs both during the construction and after.
At Cite Group, we are excited at the population boom projected for Sydney and the new developments to come. We know that this will help to generate positive benefits for our city such as increased tourism, job creation and economic growth, all factors that are greatly needed during these unprecedented times. To learn more about Cite Group’s new developments, visit our website.