The NSW Government will build a new metro railway station at Pyrmont as part of the mega Sydney Metro West project, greatly enhancing plans to revitalise the inner city precinct to encourage jobs, investment and economic growth.
A Sydney Metro station at Pyrmont will:
- Create 500 direct and 1700 indirect jobs.
- Ease congestion at key CBD railway stations like Central and Town Hall.
- Relieve demand on the Dulwich Hill Light Rail Line by about 10 per cent.
- Serve major events and entertainment activities, including those around Darling Harbour and the Sydney International Convention Centre.
- Support Pyrmont as a diverse, desirable, vibrant and accessible inner urban precinct.
- Provide customers with about a 26-minute saving between Parramatta and Pyrmont, with the trip taking just 18 minutes.
A value share contribution mechanism will be applied to the Pyrmont Peninsula once the Sydney Metro West project opens.
It will require some commercial property owners, other than small businesses, that benefit from increased land values associated with the new station to make an annual contribution to offset the cost of building the station.
A one-off Transport Special Infrastructure Contribution will also be applied to certain new developments in the Pyrmont Peninsula in advance of the station opening.
The Pyrmont metro station location is subject to further planning and design work.
Sydney Metro has worked with the Department of Planning, Industry and Environment and other stakeholders to ensure the plans for a metro station at Pyrmont are consistent with the planning work being undertaken to unlock innovation and investment in the Pyrmont Peninsula.