The revitalisation of Sydney's oldest road with thousands of new homes and jobs is one step closer following changes to accelerate the planning process.
Minister for Planning and Public Spaces Rob Stokes said the changes mean planning proposals for the Parramatta Road corridor can now be lodged and progressed to public exhibition to coincide with the completion of traffic studies.
"Parramatta Road has been a 20km scar through Sydney's heart for far too long, but we've now got real momentum to transform it," Mr Stokes said.
"Our Planning Delivery Unit has done a fantastic job in breaking down barriers between state agencies, councils and stakeholders to get the Parramatta Road Corridor Urban Transformation Strategy off the shelf and into action.
"With WestConnex open, Sydney Metro West on its way, and the necessary traffic studies expected to be completed by the end of the year, we want to continue the momentum."
An update to a 2016 ministerial direction now gives statutory weight to the strategy and could unlock a potential $850 million worth of investment.
"We are now welcoming proposals to deliver up to 27,000 new homes and 50,000 jobs along Parramatta Road. The changes will allow proposals to be assessed in consultation with the community, fully informed by the transport studies now being finalised," Mr Stokes said.
"We've also been working with councils to improve public space along the Corridor. A total of $198 million has also been allocated to help councils deliver 32 new projects to support the expected growth, including new parks, cycleways, plazas and public art.
"With these projects well underway, now is the time to progress development which will reawaken life and activity on what can become one of Sydney's great boulevards."
The Ministerial Order is accompanied by an updated implementation plan to guide the preparation of planning proposals and development along the corridor.
The Department of Planning, Industry and Environment will now work with relevant councils to progress planning proposals already in the system to Gateway determination.
