17 March 2010
The Metropolitan Strategy review discussion paper, released by the NSW Government today, fails to acknowledge the poor implementation of the strategy and walks away from a key principle of the original plan, according to the Urban Taskforce.
Instead of increasing housing production, approvals have fallen by 20 per cent.
The 2005 Metropolitan Strategy had some great goals, but there has been very little delivery on the ground, Mr Gadiel said.
The private sector was burned by the first Metropolitan Strategy, because so many of its promises were not fulfilled.
And Sydney lost out, because the promised land release, corridor renewal and centre development didnt eventuate. This review is an opportunity for the government to adopt a renewed strategy that it is prepared to fully deliver.
Mr Gadiel said that the review was off to a poor start by dropping a key principle of the Metropolitan Strategy.
The 2005 strategy was meant to preserve 80 per cent of Sydneys suburban streets in their current form, and providing for higher density development in the areas around urban centres and high quality transport corridors.
These corridors included Victoria Road, Parramatta Road, the Pacific Highway, Liverpool Road, Anzac Parade, Pittwater Rd, Canterbury Rd, Princes Highway and Gardeners Rd.
Urban development along the full length of corridors now barely rates a mention in the discussion paper.
Instead all the focus is put on ˜centres.
If it ignores the potential of corridors with excellent transport infrastructure to support urban renewal, the government would deprive the economy of the benefits of the efficient use of this infrastructure.
There is simply not enough land, and there will never be enough land, to provide for Sydneys needs if a centres-only approach is taken.
If the NSW Government walks away from the idea of supporting urban renewal in corridors it will be handing massive and disproportionate economic power to landowners located in the few centres that are cleared for higher development.
That means less housing, less shopping precincts, less business premises and higher prices and rents for those properties that are developed.
Thats got to be a worry for anyone who might be looking to rent or buy a home in the coming years.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
For every $1 million in construction expenditure, 27 jobs are created throughout the broader economy.
The construction activity made possible by property developers contributes $78 billion to the national economy each year and creates 849,000 direct jobs.
