Council has acpuired a number of proprties critical to the sucecss of its river strategy.
The sites include: four sites along Phillip Street – the historic Willow Grove, St Georges Terrace and other commercial buildings – at a total cost of $35.5 million. The acquisitions open the way for Council to improve the CBD’s connection to Parramatta River.
"These purchases will allow Council to provide a critical civic link within the City from Parramatta Square through to Riverbank and the foreshore. It allows Council to be more flexible in its activation and rejuvenation of a core precinct in our CBD," Parramatta Lord Mayor Cr Paul Garrard said.
“Prudent negotiations mean Council was able to achieve the best possible purchase prices in a competitive market in order to achieve its vision for Riverbank. Council is making a smart investment in the River Strategy that will deliver cultural and social benefits and another economic injection into the city.
“Historic Willow Grove will be included in our plans to activate the Riverbank precinct which is a crucial part of Council’s River Strategy adopted earlier this year.”
Council has also resumed control of the former David Jones car park site, which together with the four key purchases will create an 18,000sq m foreshore site that will become a lively mixed-used precinct featuring a variety of social, cultural and community assets as well as apartments.
The River Strategy sets out plans to revitalise the foreshore between Gasworks Bridge and Rings Bridge, O’Connell Street. New and improved spaces will be created for walking, cycling, picnicking, outdoor dining and hosting major events such as New Year’s Eve and Loy Krathong.
The $200 million River Strategy project will be completed in stages over a 20-year timeframe with funding from a range of sources including Council, the State Government and the private sector.
“The development of the $2 billion Parramatta Square and our visionary River Strategy will ensure our city remains vibrant while celebrating our unique cultural, historical and economic credentials.”
A blueprint for the Riverbank is currently being considered by Council.
