Six years on – new Olympic city model gains momentum at Sydney Olympic Park

On the eve of the anniversary of the 2000 Olympic Games, Sydney Olympic Park continues to develop at a rapid pace as a model Olympic city.

Chief Executive Officer for Sydney Olympic Park Authority, Mr Brian Newman says that the last six years have been ‘the founding years’ for the precinct’s 20-year transformation from its Olympic state to becoming a modern, vibrant economic centre.

“During the ‘founding phase’ we have defined an exciting vision for the Park’s future – one that will establish an international benchmark for the post-Games development of Olympic precincts, while at the same time ensuring that the legacy of the Games continues to grow,” Mr Newman said.

“In this time we have generated revenue in excess of $100 million in land sales, including securing an agreement with Australia’s largest hotel group, Accor, to establish a new five-star and two-star hotel at the Park.”

The new 21-story Sofitel and two-star Formule 1 hotel will bring the total number of hotel rooms at Sydney Olympic Park to approximately 700.

“Since 2000, annual visitation to Sydney Olympic Park has almost doubled and the precinct continues to be embraced by the people of Sydney, as well as national and international guests. I am confident that visitation will hit 10 million by 2010 from 4 million after the Games,” Mr Newman said.

More than 60 businesses and 6,000 workers are now located at Sydney Olympic Park, and Mr Newman recently welcomed a deal with one of Australia’s largest financial corporations, the Commonwealth Bank of Australia, which will relocate 5,000 staff to the Park by 2009.

“I'm sure the Bank and its staff will come to enjoy the Park's healthy indoor and outdoor environment, including the fantastic sporting facilities and the Park's 425Ha of diverse parkland. The Bank's relocation will add momentum to the Park's transition from an Olympic events venue to a unique township”.

Since the 2000 Olympic Games, Sydney Olympic Park has continued to attract major events, announcing it will host the opening mass for the 2008 World Youth Day, which is expected to attract more than 200,000 people. In 2009 the Park will also host the World Masters Games, attracting 20,000 competitors. In 2005, more than 4,000 events were held at Sydney Olympic Park, attracting 3.6 million people.

Mr Newman says “the next 5 years is the ‘growth phase’ during which time we expect to see a significant level of new development taking place across all sectors including residential, retail, office, education, hotel and food. Within 12 months Sydney Olympic Park will have 6 sites under construction representing a development value of over $A200 million – the development of a new township at Sydney Olympic Park is well and truly underway.

“We are at the cusp of a very exciting process of urban transformation that will create a very special Park that retains its Olympic heritage whilst making a unique place for people to live, work, learn and enjoy the amazing leisure assets available at the precinct” Mr Newman said.

Some of Australia’s best Olympic athletes will celebrate the anniversary of the Sydney Games when they attend the annual NSW Olympians Club dinner on Sunday night, 15^th September 2006, at Telstra Stadium.

Media Contact: Sydney Olympic Park Authority - Bronwyn Edwards – 0419 292 205