Huge Sydney development meets one week of population growth

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Via Orwellianfax:

Seven hundred apartments will be built on a large block around a new rail station in inner-Sydney Waterloo, government documents show.

The Waterloo “Metro Quarter” proposal by the government’s UrbanGrowth Development Corporation and Sydney Metro, made available on Wednesday, includes four residential towers of 29, 25, 23 and 14 storeys.

Much of the development would occur at the same time as construction of the train station, which will form part of a new metro line connecting a new route under the central business district with the existing Bankstown Line.

For some reason this story is tagged under “housing affordability” when the development will cater for one week of Sydney population growth. Let’s tag it what it is: “developer profits, public losses”.

To wit, the northern beaches are going under:

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Pittwater Road is choked with traffic. There are long queues to board double-decker B-line buses. The footpaths have been turned into obstacle courses. The suburb is noisy with building works.

“Transport is a massive issue,” she said. “There are a lot of buses with the new B1 line, but the queue to get one is super-lengthy and currently a bit haphazard as big apartment developments are being built on Pittwater Road where the buses stop.”

But she said the residential developments were leading to worsening congestion that the area’s roads and public transport were ill-equipped to handle.

As the plan to destroy Sydney with a population it can’t handle continues, get ready for much worse under every build-out scenario offered by Infrastructure Australia:

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Every scenario sees much worse traffic and much reduced access to services and green space for the existing population.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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