Funding Remains Uncertain for Sydney's 'Grand Project'

"An ambitious plan to remake Sydney is a 'grand project and a grand vision' but lacks some vital details, Sydney Lord Mayor Clover Moore says."

"For instance, no-one appears to know how much it will cost or who will foot the bill."

"Under the proposals, based on the ideas of Danish architect Jan Gehl, George Street would become a pedestrian mall and the Western Distributor would be buried beneath a revitalised Darling Harbour."

"A light rail loop would also be established between Central and Circular Quay, and retail and business development would be built over the rail lines near Central Station."

"The plan has been applauded by industry groups and even received the qualified backing of the state government."

"But asked about the cost of the various projects, and who would pay for it, neither the lord mayor nor economics and planning expert Pat Fensham could say."

Thanks to ArchNewsNow