The $1.2 billion Riverbank project is a premier urban renewal precinct in Parramatta poised to become a defining architectural feature of the city that will embrace Parramatta River as the life source of the city.
It will become a key cultural precinct binding the physical element of the river, together with history, culture, entertainment and recreation to the heart of the new Parramatta CBD.
In a once in a generation opportunity, the Parramatta River foreshore has been selected as the location for the new Museum of Applied Arts and Sciences – also known as the Powerhouse Museum. Once established the Museum has the potential to draw up to a million visitors a year to Parramatta.
Riverbank is a critical precinct in the Parramatta City River Strategy that is focused on reactivating and rejuvenating the river.
The overall $1.2 billion precinct will be a mixed-use urban development that incorporates flexible public space, residential apartments, heritage, entertainment and cultural space, retail, parking and food & beverage. The open public space and waterfront location are the key defining features of the project.
It will complement Parramatta Square, which has been designed to attract world-class businesses to the CBD. Riverbank will provide an entertainment and cultural space that will be active day and night.
City of Parramatta Council has prepared a development blueprint for the 20,000 square metre precinct that will assist in bringing the river back to life, with a new breed of development that offers world-class creativity and culture at its heart. The blueprint proposes up to 1,200 apartments, 6,000 square metres of retail, and 10,000 square metres of open space