The City of Sydney’s budget commits to supporting local business and renewing infrastructure. Image: Canva
  • Sydney City budget to prioritise captial works projects and infrastructure renewal
  • Encouraging active transport remains a high priority
  • The budget reflects a renewed commitment to reconciliation

The City of Sydney will spend over $750 million in the next financial year as the city continues to adapt to the impacts of Covid.

Lord Mayor of Sydney, Clover Moore, says the new city budget features expenditure on programs, services and capital works that will help maintain the momentum of Sydney’s recovery.

“We’ve allocated money for street upgrades, greening and grants to help ensure our residents, businesses and visitors get the support they need to ensure Sydney is the best place to live, work and visit,” she said.

Funding capital works projects and infrastructure renewal

Over $200 million has been allocated for capital works projects for the coming year, with the money split between new projects and revitalising existing amenities.

A few of the specifics include:

  • $22.5 million for bike paths and cycling infrastructure, including the Oxford Street bike path,
  • $17.8 million for community, cultural and recreational centres, including Huntley Street and Alexandria indoor courts,
  • $34.4 million for public domain work, with $8 million for the final stages of the George Street pedestrianisation and $6.9 million for the Crown Street upgrade,
  • $5.3 million for continued street tree and in-road planting programs, and
  • $23.3 million for new parks and upgrades including stage two of Gunyama Park and George Julius Avenue north.

Moore says $16.1 million is also earmarked for infrastructure renewal, from road and footpath works to paver in-fills, kerbs, and drainage.

He adds encouraging active transport remains a priority, with $22.5 million going towards Sydney’s bicycle network, which is part of the Council’s long-term $122 million financial plan for cycleways over the next 10 years.

“We will continue to waive outdoor dining and venue hire fees, and invest in city precinct activations like our popular Sydney Streets road closures, which will provide much-needed support to local businesses and community during their own financial recovery,” she said.

Boosting community and cultural projects

The city’s budget also includes financing multi-year community and cultural projects, including:

  • $7.7 million for the upgrade to Pyrmont Community Centre,
  • $8.8 million for the fit-out of the George Street innovation hub, which sees three levels of floor space dedicated to tech and innovation, and
  • $5.5 million for improvements to Dixon Street, which is part of broader upgrade plans for Chinatown.

Moore says the budget also reflects the City of Sydney’s commitment to reconciliation.

“$11.5 million will be pledged to the long-term plan for Yananurala, a project to celebrate the cultures and heritage of First Nations people along the harbour foreshore, and $400,000 for cultural programs at our new Aboriginal and cultural knowledge centre in Redfern,” she said.



You May Also Like

Perth apartment popularity on the rise, but new stock is still looking for firmer financial foudations

Costs remain a major hurdle to making more affordable apartments viable to build.

Carly Barrett and Paul Rossen awarded the AIA WA President’s Prize

This year’s award recipients have contributed towards growing public interest and understanding of architecture, as well as mentoring the next generation of architects.

2024 Australian Interior Design Awards reveals a record 222 shortlisted projects

Sustainability, collaboration, and timeless natural materials were this year’s biggest trends.

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award categories

This year’s awards include several brand new categories, with entries closing 2 August 2024.

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Thinking of borrowing for a new home? We decode the home loan lingo and explore ...

We take a look at everything from principal and interest to rates and more.

A window of opportunity could be open for savvy Australian property investors, but time is ...

One expert has noticed investors are on the move while there's less competition and fewer buyers in the marketplace.