On Monday night Council's Planning Development and Transport Committee considered a report about a major review of the planning controls for Sydney's CBD.
The City's new planning controls, the City Plan, will help deliver 15-20 year's supply of commercial office space. By planning for growth now, we are making sure Sydney not only remains a competitive global city but becomes more attractive for business and investment.
Central Sydney is Australia's major hub for high-level financial, legal and business activities, and an important base for education, tourism, retail, recreation, creative industries and the green economy.
Almost eight per cent of Australia's GDP in 2009-10 was produced in central Sydney - more than the mining industry. More than 15 per cent of Australia's export-oriented, advanced business services, including banking, investment and information technology, are based in central Sydney.
Over 35 per cent of floor space in central Sydney is devoted to office use and nearly 88 per cent of employment occurs in these office spaces.
This planning review will make sure the City's $90 billion economy continues to grow and is supported by proper investigation and processes, rather than ad hoc decisions. It will be a positive influence on Sydney's role as Australia's only global city.
This first comprehensive review since 1998 is expected to take three to five years.
We will be consulting with the property industry and government and studying the views of local and international commercial tenants, investors, owners and agents to understand the commercial floor space needs of businesses.
The review will also look at competing Australian and international cities, tourism needs, public transport capacity and how replacing or refurbishing buildings can contribute to the City environmental targets.
Planning controls that provide access to sunlight and public space, protect heritage and improve the city's environmental performance will ensure central Sydney remains a great place to work, visit and live, and an attractive place to invest.
- Council's Planning Development and Transport Committee report on 'Central Sydney Planning Review'