The NSW Government announced on the 11th of December that Pyrmont would be the next location for a new stop on the Sydney Metro West train line. The NSW Government has announced that the new station will provide the following:
Create 500 Direct and 1700 indirect Jobs
Ease congestion at key CBD railway stations like Central and Town Hall
Relieve demand on the Dulwich Hill Light Rail Line by abut 10 per cent
Serve major events and entertainment activities, including those around Darling Harbour and Sydney International Convention Centre
Support Pyrmont as a diverse, desirable, vibrant and accessible inner-urban precinct
Provide customers with about a 26-minute saving between Parramatta and Pyrmont, with the trip taking just 18 minutes
Local property owners required to make an annual contribution
The State Government has announced that it will require some commercial property owners, (excluding small businesses) that benefit from the new station and increased land values to make an annual contribution to contribute to the cost of building the station. Also, a one-off Transport Special Infrastructure Contribution will also be applied to new developments prior to the stations opening. Whilst this may seem quite doom and gloom for some property owners in Pyrmont the finer details of these contributions are still unclear at the time of publishing this article, and this should be taken into consideration.
It has been our view that NSW's public transport system needs to become more prominent and efficient. If the residents of NSW are to begin to transition away from using automotive vehicles as their primary means of transportation and begin to start using public transport instead.
How the project will be funded is interesting, I'm sure many of Pyrmont's landowners will be interested to see what contributions (if any) will need to be made to construct the new station.
If you would like to find out more about the new station at Pyrmont, click the link down below.
