The revitalisation of Australia's oldest road is to be undertaken by the NSW government.

NSW minister for Planning and Public Spaces Rob Stokes says the changes mean planning proposals for the Parramatta Road corridor can now be lodged and progressed to public exhibition to coincide with the completion of traffic studies.

“Parramatta Road has been a 20km scar through Sydney’s heart for far too long, but we’ve now got real momentum to transform it,” says Stokes.

“With WestConnex open, Sydney Metro West on its way, and the necessary traffic studies expected to be completed by the end of the year, we want to continue the momentum.”

An update to a 2016 ministerial direction now gives statutory weight to the strategy and could unlock a potential $850 million worth of investment.

“We are now welcoming proposals to deliver up to 27,000 new homes and 50,000 jobs along Parramatta Road. The changes will allow proposals to be assessed in consultation with the community, fully informed by the transport studies now being finalised,” says Stokes.

“We’ve also been working with councils to improve public space along the Corridor. A total of $198 million has also been allocated to help councils deliver 32 new projects to support the expected growth, including new parks, cycleways, plazas and public art.

“With these projects well underway, now is the time to progress development which will reawaken life and activity on what can become one of Sydney’s great boulevards.”

The Department of Planning, Industry and Environment will now work with relevant councils to progress planning proposals already in the system to Gateway determination.

Image: NSW Government