Projects: PARRAMATTA

^yes finn, its next door. its a few metres shorter then museum tws

whats everyone make of this?
From todays SMH click for full story



CIVIC PLACE
A $1.6 billion deal with a property developer landed Parramatta in a legal maelstrom, until government lent a hand.

When David Borger stepped down as Parramatta lord mayor last year, his vote of thanks to fellow councillors included this memorable line: " . . . we should all take pride in the inclusive and informed way councillors educated themselves as property developers".

Borger's warm inner glow from transforming humble councillors into deal-hunting developers was a reference to the 2007 decision to sign an ambitious agreement with Melbourne developer Grocon for a $1.6 billion redevelopment of Civic Place, the biggest urban renewal project NSW has seen for a decade.

Instead of simply zoning land under its control and letting developers do what they normally do, Borger signed an agreement, with a deed of trust, detailing a plan to turn its sprawling car parks, council chambers and rows of graffiti-marked shops into three hectares of skyscrapers of up to 44 storeys, perched on the edge of expansive piazzas, complete with an art gallery, library and other public facilities all close to the city's gleaming new railway station.

The agreement is a public-private partnership to rebuild a huge block just north of the station to attract workers, shoppers, residents and artists to a rundown precinct and reinforce Parramatta's position as the retail and commercial capital of western Sydney.

Two years after the documents were finalised, the only sign of movement is in the mounting pile of legal bills the council is racking up, and the introduction of controversial laws to help the council get hold of the private land it needs if Civic Place is ever to be more than an architect's dream.

Two straight-talking shopowners have stood in the council's way from the start. Ray Fazzolari, who runs a property company, and Michael Winston-Smith, a Narrabri farmer, each own properties on Darcy Street where high-rise towers are planned. Neither has wanted to sell unless the price is right.

Fazzolari knew in 2002 a plan was afoot when he was approached by real estate valuers F C Carrapetta and Associates with a $3.1 million offer for his four shops. It didn't take him long to work out the anonymous client was the council and that the Civic Place proposal, unsuccessfully pushed by the council back in the 1980s, was again moving. He rejected that offer, and $4 million a year later...

Interesting that the project stems far back as the 80s, but I get the feeling it will still be a long time before anything comes of this. The latest I hear is the council copped some big bills due to the court proceedings and isn't in a rush now to go any further with Civic Place ...... short of placing the whole project on hold

Another scraper for Parramatta at 2-6 Pennant Hills Rd. Looks fab. Around 13 storeys???