One of Sydney’s most congested and rundown freeways will be home to more shops and offices as part of a plan to inject more jobs in the inner-west corridor.
Around 27,000 new homes will be built along Parramatta Road as part of the NSW government's final blueprint to transform the dilapidated roadway.
The figure, which is a significant reduction from the previous residential target of 40,000 new dwellings, is a "bold and cautious approach", Planning Minister Rob Stokes says.
"This is already a very dense part of Sydney and we want to make sure the new dwellings have a great deal of livability around them," he said while unveiling the plan on Wednesday.
The strategy is underpinned by forecasts that 50,000 vehicles a day, including 10,000 trucks, will shift from the traffic-choked artery to the WestConnex motorway, Mr Stokes said.
"Obviously we're going to have another arterial road heading from east to west so it stands to reason that a good number of those cars and heavy vehicles are going to make the choice for a faster trip along WestConnex," he said.
But Labor Opposition Leader Luke Foley says that's unlikely.
"The exorbitant tolls they're putting on the M4 will push more traffic than ever back on Parramatta Road and that will make improvements to amenity and people's quality of life impossible," he said.
The 30-year plan will add 56,000 residents to the 20km corridor from Granville to Camperdown, with local infrastructure and amenities to be built in "lock-step" with new homes and jobs, Mr Stokes said.
Property and land rezoning, and construction are expected to start as early as 2018.
The state government "doesn't have any plans for compulsory acquisition" but some councils may acquire land for public parks, Mr Stokes said.
He said the government will kick-start the process with $198 million to go towards local projects such as urban plazas, bike paths and green spaces.
At least two lanes will be dedicated to public transport and there are also plans for a $131 million rapid bus route from Burwood to the CBD.