The NSW Government has unveiled the preferred masterplan for the Waterloo precinct after months of consultation, with more than 1100 current tenants and members of the public sharing their views.
Minister for Social Housing Pru Goward said the preferred masterplan reflected the housing, environmental and cultural priorities of the community.
"We have consulted extensively with residents and stakeholders and we have listened – this Masterplan will make Waterloo one of the most attractive suburbs in inner Sydney for people to live, work and play," Ms Goward said.
"Residents told us they wanted green space with plenty of pedestrian walkways, and housing close to shops, services and transport. I am proud to say that this masterplan achieves all of that.
"The Waterloo preferred masterplan will provide for new and modern fit-for-purpose social and affordable housing, mixed with private housing in a well-located community close to the new Waterloo Station and Metro Quarter."
The masterplan will guide the revitalisation of Waterloo over the next 15 to 20 years, allowing residents to have access to new multi-purpose community facilities providing space for cultural events, community learning, child-care and health services.
George Street in Waterloo will transform into a wide tree-lined pedestrian boulevard, with water features and links to the new Waterloo Station. The new site will feature three hectares of open space, including two new parks, Village Green and Waterloo Commons.
The Department of Family and Community Services will lodge the masterplan with the Department of Planning and Environment in 2019.
The Waterloo redevelopment is part of the NSW Government's Communities Plus program, which will deliver up to 23,500 new and replacement social and affordable housing dwellings and up to 40,000 private homes across NSW over the next 10 years.