02 April 2009
Todays High Court decision blocking the Civic Place development in Parramatta confirms that the NSW government and local councils lack the necessary powers to deliver major urban renewal projects, according to the Urban Taskforce.
Governments and councils have a crucial role in consolidating fragmented land parcels into single sites to enable major urban renewal, Mr Gadiel said.
If they dont have the power to acquire land on just terms, many derelict parts of our urban centres may never be re-built.
The governments response to this court case should be clear.
Parramattas $1.4 billion Civic Place development must not be allowed to drift away.
The Civic Place redevelopment would re-fresh a three hectare block of run-down Council-owned and private properties next to the new Parramatta Transport Interchange The development involves a new library, heritage centre and public art gallery. The development plans include piazza-style public spaces, an independent cinema, sophisticated shopping, restaurants and entertainment operating night and day.
The NSW Government should urgently introduce new laws which allow a state government authority to acquire fragmented parcels of land with just terms compensation – for urban renewal projects.
NSW will be relying on the construction industry to lead us out of the recession.
This development and others like it is clearly in the public interest.”
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 $69 billion to the national economy each year and creates 709,000 direct jobs. The construction industry is Australias third largest source of employment.
