Up to 108,000 new jobs could be created as a result of building a light rail route from Parramatta to Sydney Olympic Park and beyond to Rhodes and Strathfield. This is one of the findings in a new report by Deloitte, commissioned and launched this week by the WestLine Partnership, a consortium of Western Sydney business and government leaders.
The Deloitte report, Restarting Sydney’s Heart: An Examination of a Proposed Light Rail through the Olympic Corridor, was written in consultation with respected urban designer, Roderick Simpson, to report on the opportunities and issues that exist if a light rail route is built along the Olympic Corridor (the area of Western Sydney extending from Westmead through Camellia and Silverwater to Sydney Olympic Park and beyond to Rhodes and Strathfield). The route is one of four the NSW Government is considering for future light rail connections.
The Deloitte report highlights that by 2036 more than 190,000 people are expected to be living in the Olympic Corridor, putting significant pressure on the existing transport network. It highlights that renewal and revitalisation of the Olympic Corridor catalysed by a light rail link provides the opportunity to connect established knowledge, business, health, recreation and cultural precincts in Parramatta, Strathfield and Sydney Olympic Park. At the same time as creating new housing, attracting new businesses and investment, creating new employment and improving urban productivity.
Theo Psychogios from Deloitte says: “We have provided an objective perspective on the urban renewal benefits that would come from improving connectivity in this area if a light rail line was built. In our view light rail would not only improve accessibility along the Olympic Corridor, but importantly, support and drive future employment, investment and residential growth.”
The report also proposes a voluntary contribution model for private sector funding to construct a light rail line to Sydney Olympic Park. This involves land owners who elect to take up density uplift incentives along the light rail route putting up money for the project. This approach helps to address what is often a key constraint for infrastructure development: lack of government funding. It also allows the private sector to contribute to urban regeneration and drive future investment in housing and employment. This approach presents an opportunity for the Government to roll out its network faster through private sector funding that offers the Government two lines for the price of one.
The Deloitte report concludes that construction of a light rail line through the Olympic Corridor presents a unique opportunity for the government and private sector to work collaboratively to deliver infrastructure, jobs and homes for Western Sydney and NSW. It strongly encourages the Government to consider this model and engage relevant land owners to negotiate a contribution funding deal that can bring the vision of the Olympic Corridor to life.
