The scheme proposes a new Rapid Transit system to service the CBD and inner ring suburbs of Sydney, while the existing heavy rail network will service outer ring suburbs as well as provide an express service to the city centre. To directly link supertall development to a sustainable transport network, supertall buildings are allowed within 200m of a transport node in the city centre.
The economic uplift to these zones will be captured through the purchase of ‘Supertall Floor Space’ from the Government, which will go directly to pay for a new rapid transit system. Using the current value of Heritage Floor Space as a benchmark, and compounding its value over 35 years Bates Smart estimates this realizes $7.1 Billion to fund a sustainable transport network.These principles have been quantified in a parametric model to create a future vision of Sydney.
The concept allows for a potential 12.5 million sqm of new floor space resulting in significant economic uplift for Sydney.
Read the latest Urban Taskforce publication Urban Ideas Issue 8
Read more ...