The City of Sydney released its strategy vision for Sydney, which has the potential to unlock up to 2.9 million square metres of additional floor space for retail, hotel, cultural and office needs to meet long-term targets for the city centre’s growth.
AEC provided land economics advice to assist the City with its review of the Central Sydney Planning Framework. The City recognised the need to ensure planning controls in Central Sydney both support and accommodate sustainable growth into the future. Specific issues AEC advised on:
· Central Sydney’s locational strengths and challenges.
· Investment drivers and trends that influence demand for major floorspace types in Central Sydney.
· The tension between demand for different types of employment floorspace versus demand for residential uses and what the implications are for growth and future sustainability.
· Financial feasibility of development opportunities and future outlook for new development.
· Charting of historic market cycles against development activity to understand a range of market conditions under which future growth could occur.
The draft Central Sydney Planning Strategy was released in July 2016, proposing to update Central Sydney’s planning controls and is the first comprehensive plan since the City of Sydney Strategic Plan in 1971, which shaped the skyline and character of Sydney today.
Read more about the City’s vision http://www.sydneymedia.com.au/skyline-vision-to-boost-economy-and-employment/
Read about it in the Sydney Morning Herald http://www.smh.com.au/nsw/cbd-boom-time-city-of-sydney-says-the-only-way-is-up-20160713-gq4vhb.html