$750 Million Barangaroo Central Project to Go Ahead in 2016.
Barangaroo is currently divided into three separate development areas – Barangaroo South, Headland Park, and Central Barangaroo. Central Barangaroo is made up of 5.2 hectares, and is located between Barangaroo South and Headland Park.
Phase one of work is due to commence on Barangaroo Central from July 2016, and the project is worth an estimated $750 million. Phase one is expected to be completed by 2019, with the whole precinct projected to be completed by 2022.
The project is said to be one of the most ambitious waterfront developments in the world, and the entire Barangaroo project is worth an estimated $6 billion. Around 23,000 people are expected to work and live in the area, with 33,000 people visiting each day by 2020.
The master plan for Central Barangaroo is for it to be “loved locally and recognised globally”. The area will combine cultural and civic attractions with retail, commercial, and recreational uses.
There will be 3 clear development blocks along Hickson road, and 30m of public walking space along the foreshore.
A new civic plaza/park will be created along the waterfront, with a network of lane-ways which will ensure both pedestrian and vehicular accessibility.
The aim is for Central Barangaroo to deliver a unique range of cultural and public activities which will stimulate all visitors who experience it. The space will be flexible for a variety of uses, allowing it to evolve over time, while maintaining the principles of the current plan.
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