And the man behind the task, chief executive Charles Moore, said he was excited to see the one time entertainment and sporting hub transform into a “super lifestyle precinct”.
Mr Moore was appointed head of the Sydney Olympic Park Authority last October, shortly after the state government released a masterplan for the park which included a vision for 10,000 more homes, business and retail space, new schools and transport links.
The importance of delivering the park’s transformation from a former wasteland turned Olympic venue into a “seven-day a week destination” hasn’t been lost on Mr Moore, a former fund manager who previously held roles in property and development.
“This is a legacy,” said Mr Moore, speaking ahead of the masterplan’s imminent gazettal. “We have to live with the outcomes (of the development) for many generations to come. That is why it is so important to get it right. That’s not a burden; I see it as exciting.”
More than 30,000 people currently live on the Olympic peninsula which comprises six suburbs - Newington, Wentworth Point, Rhodes, Homebush, Sydney Olympic Park and the Carter Street precinct.
That number is expected to surge to 100,000 within the next 10 years.
“We know the peninsula will grow by more than 200 per cent and what that will look like is a larger number of young families from a diverse range of cultural backgrounds moving into the precinct,” Mr Moore said.
“The challenges are very much around balancing this rapid densification and diversification of usages to ensure the mix of usages is right. We don’t want Sydney Olympic Park to be a dormitory suburb. It should be a great place to live, work, learn, shop and play.
“While the masterplan has to remain true to what the park was delivered for (like events), we have to balance this with living, working and playing and get the mix right.”
When the masterplan was exhibited for public feedback, about 60 responses were received, raising concerns about public transport and education.
“The government is responding to the transport concerns with the widening of the M4, WestConnex and the light rail announcement,” Mr Moore said.
“They understand the pressures and are looking to deliver the infrastructure to meet the growth.”
On schooling, there are plans for three primary schools and a high school and Western Sydney University recently opened a college campus at the park.
But the jewel in Sydney Olympic Park’s crown, Mr Moore said, was its 420 hectares of parkland which includes cycleways.
“We are the Centennial Park of Sydney’s central west,” he said.
“About two million people come to watch sport here every year but 2.5 million come to play sport. “That might be as simple as walking in the park or riding a bike. We have 500,000 kids come here each year to swim in the Olympic pool or run on the athletic track.
“These are great legacy assets from 2000. They are the cornerstones that we are now building on.”
