07 March 2008
The Urban Taskforce today called on the NSW Government to fast-track a large scale release of residential land following its announcement of $1.36 billion for the 13 kilometre South West Rail Link.
This is a sign that the State Government is serious about accommodating Sydneys future growth needs, Mr Gadiel said.
A definite start date for construction is the sort of certainty the development industry has been seeking for some time.
This will help encourage the new housing, retail, commercial and industrial development that Sydney desperately needs.
The development of new housing lots in Sydney is woefully low – at the same levels as Adelaide.
The government must now take the next step and fast track a large scale release of zoned land for residential development in Sydneys growth centres.
The Government has announced 13 kilometres of new rail line, three stations at Glenfield, Edmondson Park and Leppington, bus interchanges at Leppington and Edmondson Park, a train stabling facility west of Leppington and 1650 commuter car parking spaces.
This is the first stage of a much needed expansion of Sydneys rail system.
We would welcome more detail on exactly how many extra trains per hour will travel into the city.
A solid commitment up-front to a minimum number of train services will help developers and potential home buyers plan ahead.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
The NSW development industrys annual turnover is $35 billion and employs 180,000 people, accounting for six percent of the States total employment. It is the fifth largest contributor to the State economy.
Chief Executive Officer,
Phone: 0417 477 904 or (02) 9238 3955