City of Sydney Council’s plans to demolish seven buildings to create a new plaza is a costly vanity project that makes no sense in the current economic climate, according to Acting Urban Taskforce Australia CEO, Paul Waterhouse.
Urban Taskforce opposes this fanciful and unnecessary splurge on an unwanted piazza that will cost jobs and destroy a critical shopping option for people living and working in our city.
The replacement of around $400 million in revenue generating assets – currently thought to be returning more than $20 million in rent per annum – with an open square is practically throwing money away at a time when the Council’s own budget is under pressure.
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