Funding gap threatens delay in Parramatta’s Riverside Theatres redevelopment

A $90m deficit threatens to delay a major redevelopment of a western Sydney theatre that promises Broadway shows, prompting calls to ensure Parramatta gets the world-class facility “it truly deserves”.

An artist's impression of the new Riverside Theatres at Parramatta.

The multimillion-dollar redevelopment of Parramatta’s Riverside Theatres by 2028 could be delayed over a funding deficit, prompting the city’s Lord Mayor to call for federal assistance to keep the show on the road and deliver a world-class facility.

The project is expected to bring the best of Broadway and West End productions to Parramatta for the first time and will more than double the theatres’ capacity to 2780 seats, welcoming 400,000 visitors a year.

The 36-year-old landmark will also be transformed to house a 1500-seat lyric theatre, a refurbished 760-seat Riverside Playhouse theatre, new 420-seat black box drama theatre, an 80-seat digital studio and cinema, and public places.

But Parramatta Lord Mayor Martin Zaiter issued an urgent plea for federal government funding and philanthropic partnerships to see the project come to fruition after a cost review identified a funding gap between $50m and $90m.

The original cost was $188m but the new price tag is at least $240m, leaving the council scrambling to secure tens of millions more dollars.

“How there can be such a gap is concerning to say the least,’’ Cr Zaiter said.

The Riverside Theatres could remain the same for a while longer while funding is delayed.

“My biggest concern is if we cannot breach the funding gap we will be forced to delay the redevelopment of the theatre, meaning that Parramatta and western Sydney continue to miss out on a world class performing arts centre that it deserves.

“As a global city, we are not willing to be treated like a second-class citizen and truly deserve this world-class facility.’’

A 1500-seat theatre is part of the redevelopment.

The council has injected $140m into the overhaul, including $40m from the sale of the Riverside carpark to make way for the Powerhouse Museum.

The state government also allocated a $40m WestInvest grant.

Now, the council is desperate to make sure the curtain doesn’t close on the landmark project.

“This council has advocated for the past decade for the Riverside Theatres’ redevelopment and now is the time for all levels of government to come together to ensure that this critical piece of infrastructure is delivered and not just talked about,’’ Cr Zaiter said.

Liberal Lord Mayor Martin Zaiter.

“At the same time it is concerning to see that the federal government is contributing all of zero dollars to what is expected to be an iconic arts centre and with the federal seat of Parramatta is deemed to be a key seat in the upcoming federal election.’’

While the Liberal mayor was scathing of the federal government, he welcomed a meeting with Parramatta federal Labor MP Andrew Charlton next week and slammed his own party, “which has been silent on this’’.

Mr Charlton said the project was still a priority and part of the plan to form a Parramatta arts precinct.

“It’s definitely still a priority I support and it needs to happen,’’ he said.

“I think we are developing a cultural precinct that will be a huge asset for the whole of Sydney and the Roxy Theatre’s a really important part, the Riverside’s a really important part of that, the Powerhouse’s a really important part of that, so I think they will come together.’’

The council will prepare a report by March to investigate future funding methods and develop a philanthropic, donor and fundraising strategy.

Originally published as Funding gap threatens delay in Parramatta’s Riverside Theatres redevelopment