May 2021
Assets

Oxford Street Transformation

Oxford Street will be dramatically transformed under a City of Sydney plan to turn the strip into a massive cultural and creative precinct, raising building heights and opening it to hundreds of millions of dollars of development.

The council estimates the proposed changes to Oxford Street’s planning rules will unlock more than 42,500 square metres of employment floor space and 11,000 square metres of new creative and cultural space.

Lord mayor Clover Moore said the draft changes, which councillors unanimously endorsed for public exhibition, aimed to balance the street’s heritage with the need for development.

“We’re breathing new life into the fabulous strip with innovative controls to support growth and diversity, protect heritage and character and promote both day and night-time economies – all while ensuring the development of cultural space, such as new basement bars and space for creatives” Clover Moore said.

Developers will be eligible for the extra building height if they include uses compatible with the street’s function as a “local centre”. This includes entertainment venues, health services, education facilities, hotel accommodation, light industry and community centres.

Changes would build on Oxford Street’s celebrated reputation as the heart of Sydney’s LGBTQI community as the city gears up to host the WorldPride LGBTQI festival in 2023.

See original article: https://www.smh.com.au/national/nsw/it-will-be-returned-to-its-heyday-taller-buildings-and-rooftop-bars-to-transform-oxford-street-20210520-p57tnt.html