THE NSW 2016-17 Budget will invest more than $537 million to support local infrastructure and improvements to the planning system to support housing supply, the State Government announced last week.
Planning Minister Rob Stokes said $262 million will fund critical infrastructure projects to accelerate new homes in Sydney's priority precincts and priority growth areas.
The funding makes up the fourth tranche of the Housing Acceleration Fund (HAF) which will accelerate the construction of more than 160,000 homes.
"The Housing Acceleration Fund will deliver the necessary roads, bridges, ramps, intersections and traffic signals to drive Sydneysiders to fresh new homes and vibrant communities," Mr Stokes said.
"This funding will support the creation of more homes close to jobs, better transport, improved public facilities and high-quality open space areas.
"We want to make sure that as our cities and communities grow, they receive vital infrastructure as well."
The funding will go into infrastructure to support the following projects:
- Hill Road M4 off Ramp – Lidcombe ($140 million);
- Hambledon Road, Alex Avenue – Schofields ($22 million);
- Appin Road – Campbelltown ($10 million for planning); and
- Spring Farm Parkway, Stage One – Campbelltown ($30 million).
This brings total funding so far dedicated to accelerating housing supply to $876 million. Previous HAF allocations worth $476 million are funding 22 infrastructure projects to accelerate housing supply including roads, water and wastewater services, and electricity.
These earlier infrastructure projects have directly accelerated the completion of 17,500 new homes, with about 30,000 additional homes currently in the approval and construction phase.
The 2016-17 Budget will also provide:
- $60 million to support infrastructure for new homes in The Hills and Blacktown local government areas under the Local Infrastructure Growth Scheme;
- $40 million to the Precinct Support Scheme – for new parks, streetscapes, and bicycle and walking paths to support communities in Priority Precincts including Carter Street, Lidcombe and Macquarie University Station;
- $30 million from the Hunter Infrastructure and Investment Fund to local infrastructure projects, including $17 million towards the Newcastle Mines Grouting Fund for grouting works in the city centre;
- $20 million to continue developing the online Planning Portal to make the planning system simpler and easier to use;
- $17 million for the Greater Sydney Commission to work with councils, communities and businesses to implement of A Plan for Growing Sydney;
- $8.5 million for the Planning Assessment Commission and Joint Regional Planning Panels to continue to deliver an independent system for assessing State and regionally significant developments; and
- $7.2 million in new funding to prepare the next Greater Sydney Regional Plan, extend the scope of District Plans, and prepare infrastructure delivery plans.