Sydney's Central Station has been identified as a future innovation and technology hub by the NSW Government, which has released plans for an extensive revamp of the precinct.

The 24-hectare renewal of Central Precinct includes creating a new network of parks, plazas, streets and lanes within the area, as well as the establishment of the Sydney Innovation and Technology Precinct, which is set to provide to 225,000sqm of employment floor space and 14,600 additional jobs.

The plan is to turn the precinct into a "vibrant and exciting place that unites a world-class transport interchange with innovative businesses and public spaces", according to Draft Strategic Vision released by Transport for NSW.

At a glance: 

• Transport for NSW has released a Draft Strategic Vision for the renewal of Sydney's Central Station Precinct.
• The plan includes the establishment of the Sydney Innovation and Technology Precinct - set to be anchored by Australian software company Atlassian.
• The Draft Strategic Vision and Western Gateway rezoning proposal are on public display until November 27.

It comes after the site was nominated for investigation as State Significance Precinct.

Australian IT company Atlassion has already signed on to be the anchor tenant of the precinct after reaching an agreement with the state government to establish a Sydney headquarters near Central Station.

NSW Premier Gladys Berejiklian said the precinct would be "underpinned by high quality physical and digital infrastructure".  

“The Sydney Innovation and Technology Precinct will become the digital destination for all of Australia with thousands of people working and learning, and I am delighted Atlassian will be part of this future,” she said,

In addition to the Draft Strategic Vision, Transport for NSW has also prepared a proposal for the first sub-precinct for renewal within the Central SSP,
known as the Western Gateway.

The proposal includes rezoning the western side of Central Station to allow for the development outlined in the Draft Strategic Vision.

While the cost of the renewal has not been revealed, the Sydney Morning Herald said estimates construction of an east-west concourse and underground platforms at Central Station for a new metro line would cost an estimated $955 million.

Both the proposal and the Draft Strategic Vision are on public display until Wednesday, November 27.

Click here for more information about the Central Precinct Renewal.

Similar to this: 

Newcastle Bus Interchange redevelopment reaches a milestone

High rise living with panoramic views proves popular in Parramatta

Crown Group designs inter-generational living concept for Sydney’s eastern residents