The NSW Premier Barry O’Farrell announced last month plans to refurbish the convention, exhibition and entertainment precinct in Darling Harbour.
The upgrade will see the area boast Australia’s largest convention and exhibition facilities, Sydney’s largest red carpet entertainment venue and a hotel complex of up to 900 rooms. A new urban neighbourhood in Haymarket will be part of one of the most exciting urban renewal projects the city has ever seen, according to a press release from NSW Government.
The preferred bidder is a consortium called Destination Sydney, comprising AEG Ogden, Lend Lease, Capella Capital and Spotless. The facilities and the upgrade of the public domain at Darling Harbour will cost about $1 billion.
The existing car parks on the western side of Darling Harbour will be demolished to make way for the urban neighbourhood, home to high-tech businesses, apartments, student accommodation, shops, cafes and restaurants.