New $21.6b city for Western Sydney

New $21.6b city for Western Sydney

9 November 2018

ASX-listed property developer Boyuan Holdings Limited (BHL) has updated its vision for the 344-hectare Northern Gateway City at Badgerys Creek, a huge development predicted to inject $21.6 billion into the NSW economy and create 55,700 direct jobs by 2050, reports The Urban Developer.

The project—a mini city within a city—will incorporate a new international university, a wellness and healthcare centre, a Westfield-anchored retail and entertainment precinct, a high-tech logistics hub in Badgerys Creek, and include 9,000 new dwellings for workers building Western Sydney’s planned Aerotropolis.

Boyuan, along with its consortium partners Scentre Group, Western Sydney University, Logos, and neurosurgeon Professor Charlie Teo are backing the project.

The Consortium is the largest single owner land holdings in the newly-created Western Sydney Aerotropolis and, according to analysis carried out by Urbis, will inject $21.6 billion into the Western Sydney economy.

Boyuan anticipates the Northern Gateway City will create more than 55,700 direct jobs, 28 per cent of the Western Sydney City Deal’s target of 200,000 jobs by 2050.

The consortium is now seeking a realignment of the proposed M12 motorway route to connect with the Northern Gateway site, reports Sydney’s Daily Telegraph.

“If we are to realise the true economic potential of the site and ensure its significance as a key strategic centre with connectivity to the Airport and Aerotropolis, it is crucial that the current proposal for the M12 is realigned within our land holding,” Boyuan chief executive Caden Wan said.

There are also calls for the construction of a new underground station within the site to service the North-South Rail Link, interchange for the Airport to Parramatta future rail line and transport interchange.

“We believe a whole-of-Government approach is needed to best integrate land use and transport planning and maximise development and employment-generating potential of the Northern Gateway site for the benefit of the whole Region,” Wan said.

Boyuan has now submitted a planning proposal to Penrith City Council to fast-track the early release and rezoning of the land holding in accordance with its refined master plan which includes the Consortium’s alternative road and rail transport corridors.

Land prices at Badgerys Creek have soared since construction at Sydney’s second airport have commenced, the AFR reports.