Surplus government land will be used to deliver tens of thousands of new homes under projects coordinated by UrbanGrowth NSW, the state government says.
Planning and Infrastructure Minister Brad Hazzard announced on Saturday that UrbanGrowth, formerly known as Landcom, had been charged with initiating and overseeing major renewal projects to deliver much-needed housing.
"Over coming decades these projects will deliver 60,000 homes in NSW for more than 150,000 residents and create 45,000 jobs while delivering up to $65 billion in Gross Regional Product," he said in a statement.
"The NSW government has said to UrbanGrowth NSW get on with these complex revitalisation projects so that we can build, build, build."
Mr Hazzard said most of the projects were on surplus government land and UrbanGrowth NSW would instigate new sites for development by the private sector.
UrbanGrowth would work with other government agencies and councils to ensure new communities had the necessary transport, school, health and other services they needed.
The new UrbanGrowth NSW portfolio comprises the Newcastle Urban Renewal and Transport Program, Parramatta Road Urban Renewal, Central to Eveleigh Urban Renewal and Transport Program, Parramatta North Urban Renewal and Green Square Town Centre.
Other projects will be added over time.
Mr Hazzard said the government was investing billions of dollars in vital infrastructure to support growth, including $500 million through the Housing Acceleration Fund to unlock housing supply opportunities.
Property Council of Australia NSW Executive Director Glenn Byres welcomed the new UrbanGrowth mandate, saying it made sense to leverage existing land banks and infrastructure projects to accelerate urban renewal.
"These are the game-changing projects we need to start radically increasing housing supply and tilt the balance back in favour of the dream of home ownership," he said in a statement.