Parramatta Sun: Parramatta Council calls for expressions of interest for Riverbank precinct
Plans to breathe new life into the Parramatta river foreshore precinct are underway.
Parramatta Council has released the first parcel of property as part of its plans to create a $1.2 billion cultural and entertainment precinct along the Parramatta River.
Over the next month, the council will run an expressions of interest campaign for a 5150 square metre parcel on the Riverbank site.
The precinct has the potential to become an all-hours entertainment and cultural destination and connect with the $2 billion Parramatta Square.
At completion, the 20,000 square metre mixed-use precinct will attract residents and visitors with a mix of residential, dining, retail, open spaces and heritage and cultural facilities including flexible open space.
Council has a development blueprint for Riverbank that proposes up to 1200 apartments, 6000 square metres of retail, and 10000 square metres of open space.
The council’s $20 million strategy to revitalise the river foreshore was adopted in December.
“It includes the preservation of local heritage and the possibility of an iconic cultural asset to distinguish Riverbank as the cultural heart of Australia’s next great city,” Parramatta lord mayor Paul Garrard said.
“The first parcel of land for sale sits on the western side of the precinct. It offers an enviable waterfront location prime for a high-quality development including residential, retail and dining spaces that can set the precedent for a vibrant Riverbank precinct.”
The 5150 square metre site could yield up to 680 apartments in a 74-storey mixed-use tower, subject to council approval.
“We are offering this site without a development application as we want to give a developer the flexibility to achieve design excellence for the residential tower and retail space to complement council’s vision for Riverbank,” Cr Garrard said.
The land release won’t affect the likely relocation of the Powerhouse Museum to the old David Jones car park in the Riverbank precinct.
The Sun understands the government will announce its decision within weeks, which has strong opposition.
“The state government needs to know putting the Powerhouse Museum at the Riverbank will result in a negative impact on council’s vision for the river,” Parramatta Cr John Chedid told the chamber in January.
“The government needs to do the right thing by the people of Parramatta.”
He later told the Sun:
“This would destroy our vision for this city,”
“The community have been waiting over 20 years for something to happen along the riverbank.”