Sydney Entertainment Centre to Undergo $1 Billion Makeover
Plans were announced to today for the demolishing and rebuilding of the Sydney Entertainment Centre.
The Sydney Entertainment Centre is set to undergo a $1 billion makeover beginning late next year. Today, New South Wales Premier Barry O'Farrell announced the demolishment and rebuilding plan, which will increase the size of the existing Centre by two thirds.
The 30-year-old Centre will be undergoing work for an estimated three year period, from late 2013 to late 2016. During that time, 3,500 construction related jobs will be created. O'Farrell is confident in the economic benefits a new, bigger Centre will provide NSW as well.
"NSW has already lost $150 million in economic benefit over the four years to 2010-11 because the current facilities have not been able to accommodate 169 conventions and 12 exhibitions," Mr O'Farrell told the Sydney Morning Herald this morning. He believes that the new Centre will more than make up for its $1 billion price tag in five years.
The new facilities are aimed at increasing the state's major events competitiveness. They will include the biggest meeting room and highest-capacity convention hall in Australia, as well as a premium entertainment facility with a minimum 8,000 audience member capacity.
During the construction period, other Sydney venues will step up to take on events, says O'Farrell. Sydney Olympic Park, the Australian Technology Park at Everleigh, Moore Park and various Sydney hotels will be among the venues to expand their role in hosting events.
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