Sydney’s newest suburb to deliver thousands of homes

In addition to housing development, the area will also serve as a cultural and community destination, centred on the revitalisation of the White Bay Power Station.

The project, 2 km west of the CBD, promises to deliver at least 10 per cent of its housing as affordable or for essential workers, as the median asking price for a unit in the Inner West now reaches $900,000, according to SQM Research.

NSW Premier Chris Minns said the project would deliver new homes in an area that needed a boost in supply.

“Importantly, this precinct will include affordable and essential worker housing from day one, so nurses, teachers, paramedics and police can live closer to the communities they serve,” Minns said.

“Cities don’t stand still. If Sydney is going to remain a place young people and families can afford to live in, we have to use well-located land better and plan for the future.”

Minister for Planning and Public Spaces Paul Scully said the government would lead the master planning process for the “city-shaping renewal” of the Bays West precinct.

“The master planning process will coordinate delivery and guide a good mix of homes and jobs, so the transition of the new precinct is smooth for industry and future residents,” Scully said.

Minister for Housing and Homelessness, Rose Jackson, said Sydney needed to remain accessible and affordable for essential workers and young families to work and live.

“That’s why affordable and essential worker housing will be built into this precinct from the beginning, not treated as an afterthought.”

“This is about opening Sydney Harbour to more people and giving the next generation a fair chance to live close to opportunity,” Jackson concluded.

Additionally, as part of the precinct's transformation, bulk port operations would have to cease on Glebe Island by 2030.

To accommodate the freight not being shifted to White Bay, the government has committed to $270 million to improve road connections and investigate rail freight to Port Kembla’s freight port.

Harbour operations, such as boat maintenance and marine construction, would be consolidated at White Bay, while the cruise terminal would remain in its current location.