The NSW Premier announced yesterday that the Powerhouse Museum would move from its current site in Ultimo to a new location on the Parramatta riverfront right next to the Meriton’s Altitude development on the site of the old David Jones car park on the banks of the Parramatta river.
The Government has committed to buying the site from the Parramatta City Council for $140 Million. This will also include a rejuvenation of the Parramatta riverfront which will include the Parramatta Riverside theatre & other amenities along with additional cafes along the waterfront strip going right the way through to The Lennox development upstream.
The represents another leap forward in Parramatta becoming a true second CBD for Sydney by now giving a reason for tourists to visit the suburb.
It is said that the new science & technology museum will be the best in the Asia-Pacific region & be home to almost all of the current sights located at the current site in Ultimo.
A price tag was put out by the NSW Government under ex-Premier Mike Baird back in 2014 of approximately $1 Billion. At this stage, there is no exact number on how much the new Museum would cost.
Of the $140 Million, $100 million will be spent on upgrading the Riverside Theatre at Parramatta and $40 million dedicated to Western Sydney arts funding over the next 20 years.
When built, it will be the biggest museum built in Sydney outside of the Sydney CBD.
At this stage, no confirmation has been made if it will become a mixed-use precinct involving high-density high-rise residential development as several renders on the City of Parramatta website had indicated.
Here is the location of the site where the new museum will be built, the existing car park will be demolished in the process.
The approximate date for the opening of the Powerhouse Museum is the year 2022.