A Five Year Strategy for aVibrant & CompetitiveCity of Sydney

Global Sydney

Prepare for the next growth phase

3,228

1,740

525

322

333

338

680

703

664

2030

2020

Peoplemillions

2009

313

251

181

341

222

137

Africa &Middle East

Central &South America

AsiaPacific

EuropeNorthAmerica

Asia Pacific middle class to grow six-fold to 3.2bn by 2030, to be ⅔rds of the world’s middle class with spending power of $33 trillion

Source: OECD (2010) – Millions of people comprising each region’s “middle class”

Complacency

Contribution to Australia’s GDP growth

Mercers ranking for Sydney “liveability” 2001 – 4th

2011 – 11th

“The Lost Decade” PwC’s “Cities of Opportunity”

Sources:SGS Economics (2011); Mercer (2012)

Sydney is a leader in Sustainability but lags for Transport and Economy

Source: PwC (2012) – Data variables modelled independently on PwC website

City of Sydney Council AreaThe fast-growing core of Australia’s gateway to the world

Population 2005 2011 Growth

Sydney 159,844 185,422 2.5% pa

Rest of NSW 6.6 m 7.1 m 1.3% pa

Sources: ABS (2012); Tourism NSW (2012)

Internationaltourists toSydney

Financial Capacity

Financial CapacityIncreasing revenues and conservative policies have left the Council with substantial cash and surplus assets

Operating Revenues

$m

Cash & Liquid Investments (30 Apr) 519

Investment Properties 212

Other non-core Real Estate 1,300

SURPLUS $2.2 bn

No borrowings -

NET ASSETS $6.7 bn

Source: City of Sydney Council (2004-2012)

41%Growth

Transport & Infrastructure

Transport & Infrastructure

2km from Central to Circular Quay is relatively straight and flat

Basic cost circa $75m, plus repositioning of utilities and pipes and “terminals”

Private sector to build and run With Council underwrite work could

begin now and be done by 2015

George Street Light Rail

Transport & Infrastructure

Positive Impacts Remove 400 buses/hour at peak

(many of them empty) and switch 200 buses to unserved routes in Western Sydney

Faster, safer movement of commuters and tourists

Productivity and environmental benefits

More pleasant streetscape with benefits for retail, locals and visitors

George Street Light Rail

Transport & Infrastructure

Free Travel Encourages use and prevents pricing

anomalies for short-hop travel Reduces fare collection costs and

commuter inconvenience Good for students and tourists too

Congestion Reduction Charge Peak time car charge at 6 entry points

from East and North of the CBD No charge from West until M4 and

fast Parramatta rail link completed

20-25% reduction in CBD congestion

George Street Light Rail

Urban Renewal &

Environment

Urban Renewal & Environment10 Strategic Sites as priorities

Urban Renewal & Environment

ARTS – Arts Ribbon Train Station Iconic artistic design Centre of the Arts hub Access to Barangaroo & Circular Quay

Supports the Global Centres of Excellence and improved Transport links

Heritage Buildings Better use of Education, Lands & Land

Titles buildings Asia brand 5-star hotel and 1st rate global

education institution

Wynyard Station Bus turning circle as Northern terminus Pedestrian plaza across George Street Mixed-use residential and commercial

Town Hall Square Pedestrianized with views to Hyde Park Bus turning circle as Eastern terminus Thin residential tower, green square

Urban Renewal & Environment

Lower Oxford Street Landscaped gateway to Hyde Park &

the City at College St intersection Light rail extension from City supports

the Entertainment & Hospitality hub More flexible “mixed zoning” to

promote the area’s unique character

Revitalise the City’s tourist hotspots and life improves for residents too

Exhibition & Convention Centre Design to include public car parking

and bus interchange for commuters from the West

Support and encourage efforts to upgrade the site as quickly as possible

Sydney Fish Market Owned by the State but leased No investment since the 1960s Improve the area and renew efforts to

upgrade to Busan/Tokyo style market

Urban Renewal & Environment

Central Station Free George Street Light Rail to

terminate at Railway Square plaza Bus turning circle as Eastern terminus Tall residential towers over rail tracks

with public parking for commuters from South and South West

A vibrant City needs far more housing at transport hubs

Goulburn Street Car Park Improve local traffic flows to offset CBD

street parking in short-term Redevelop as iconic residential tower

block focused on green sustainability

Green Square Upgrade the station to encourage public

transport between the City & airport CSPC to promote faster planning and

development of surrounding area

Governance

Governance

Sydney has a poor track record on major projects – Light Rail, Metro, Green Square

Singapore began planning Marina Bay 2 years after Barangaroo but it’s already up and running, adding 0.8% pa. to GDP

Central Sydney Planning Committee (CSPC) to be upgraded with powers to implement the plans in this Report

The 7 members already represent both Council and NSW State Government

CSPC to be “one stop decision maker” for city planning and transport

Specific extension of CSPC scope:

Tenders to build and operate George St Light Rail, with Arts precinct extension

Implement consequential traffic changes to CBD

Run design competitions including “Citizen Juries” to give master approval for the 10 Strategic Sites

Final say over the City’s planning and transport decisions with authority to overrule NSW Govt Departments

Global Centres of Excellence

Global Centres of ExcellenceClustering of 8 sectors in which the City can have global success

█ Arts & Creative Industries

█ Environmental & Other Technologies

█ Finance & Professional Services

█ Retail

█ Hospitality & Entertainment

█ Asian Food & Culture

█ Education & Health

█ Design & New Media

Recommendations

A Vibrant and Competitive Sydney

Transport and Infrastructure Free Light Rail Fewer Buses Lower Congestion

Ten Strategic Sites CSPC to drive process Citizen Juries to make aesthetic

judgements

Global Centres of Excellence Eight hubs to build upon Clustering for success Development Partnerships

Capacity to invest Integrated plan underwritten

with strong Council balance sheet

Global momentum Shifting centre of gravity to our

region

Improve governance Co-operation between State,

Local (and Federal) governments Upgraded Central Sydney

Planning Committee

The Opportunity The Strategy

www.globalsydney.org.au

Top 10 Recommendations

Central Sydney Planning Committee to become “1 stop decision maker”

Begin iconic constructions on the 10 Strategic Sites during Council’s term

Underwrite funding for immediate start to George Street improvements with light rail, bike lanes and plazas

Make the necessary lane improvements to other CBD roads

George Street Light Rail to be free, funded by Congestion Reduction Charge at 6 city entry points

Encourage candidates in the upcoming election and NSW Government to support:

Turning circles at Wynyard, Central & Town Hall to eliminate CBD buses

Peak hour street parking in the CBD replaced by underground parking

CSPC supported by Citizen Juries and 60 day response time from Departments on Strategic Sites

Global Centres of Excellence strategy to focus on 8 business clusters

Freeze all rates during next Council term, allocating 5% of Business rates for Global Centres of Excellence