Developer Harry Triguboff offering NSW millions for light rail extension to Pagewood project
EXCLUSIVE: Developer Harry Triguboff is offering the government millions of dollars to extend the CBD-Eastern suburbs light rail out to Pagewood — where he is building a large apartment development.
NSW
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DEVELOPER Harry Triguboff is offering the Baird government tens of millions of dollars to extend the CBD-Eastern suburbs light rail out to Westfield Eastgardens, at Pagewood, where he is building a massive development.
The $2 billion light rail project from the city — due to be complete in late 2018 — finishes at Kingsford Junction, but Mr Triguboff is understood to be pushing for a dog leg down Bunnerong Road to Eastgardens to help service his $3 billion Pagewood Green development which will contain 3000 apartments.
Mr Triguboff confirmed the offer.
“Meriton has a significant development presence in the southeastern area of Sydney,” a spokeswoman for Mr Triguboff said.
“Local councils in the area have identified that a light-rail extension would benefit the local communities, as outlined in their strategic economic plans.
“Meriton has offered to make a financial contribution towards the cost via a Voluntary Planning Agreement, in accordance with the Environmental Planning and Assessment Act.
“The offer was intended to capitalise on significant state infrastructure development already underway.”
The spokeswoman said she would not reveal the amount being offered by Mr Triguboff but denied it was $100 million.
The Pagewood Green development on the former British and American Tobacco Australia and Holden site on Bunnerong Road will house more than 3000 apartments and 5000sq m of shops, plus a childcare centre.
Its first stage, the Allium, involves four towers up to 20 levels, housing 487 apartments, and is expected to be complete by 2019. Many of the apartments have already been snapped up for between $785,000 and $1.7 million.
Transport Minister Andrew Constance confirmed the Triguboff approach yesterday.
“We welcome the interest from investors because it eases the burden on taxpayers.
“We welcome Meriton’s approach in this regard but at this stage there’s no plan to provide light rail beyond the current route.
“(However) as you see that part of Sydney grow, we have got to ensure we get a mass transit solution,” Mr Constance said.
The government’s long-term master transport plan is due out next year and it is understood a metro line heading southeast could also be considered.
The Transport Minister said that the concept of “value capture”, or developers contributing to transport, was occurring with the Parramatta light rail and could occur elsewhere.
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