Pyrmont and the precinct west of Sydney Harbour would be home to a cable car into the city, floating bars and swimming pools under a new "vision" being backed by the NSW government.
A waterfront promenade, metro train station, extra ferry services, a major festival and a reopened Glebe Island Bridge would help transform the area into a $20 billion tourism and entertainment hub, a report from the Western Harbour Alliance and Committee for Sydney lobby groups suggests.
The Berejiklian government is pushing ahead with plans to redevelop Pyrmont after the state's independent planning authority knocked back The Star's proposal for a $529 million casino tower.
Treasurer Dominic Perrottet said at a launch for the committee's "vision" on Wednesday the precinct would unlock a potential $20 billion in capital investment and provide context for 10,000 jobs.
Committee for Sydney consultant Geoff Parmenter said "a taste of what we're thinking about" included a food festival, harbour pools, stand-up paddleboarding, swimming with salmon in a tank, a "splash and dash" fun run, and a "synchronised" film event with 20 floating screens.
The report also says a "cross-city sky car" could run from Centrepoint Tower in the CBD to Crown's Barangaroo casino then across the harbour to The Star casino and Sydney Fish Market at Pyrmont.
But City of Sydney lord mayor Clover Moore said a network of cable cars "strung up between our tall buildings is reminiscent of - and will inevitably have the same short-lived appeal - as the monorail".
"I think the vision has a few ideas that should remain just that - ideas," she said at the launch.
Mr Perrottet said: "Maybe some of those ideas won't get up, but it gives you a snapshot, and a picture, that if we work together we could really transform this area for the better."
The Western Harbour Alliance's membership includes The Star, Sofitel Darling Harbour, Google, Lendlease, Mirvac, Infrastructure NSW and the Sydney Fish Market.
Amid debate over The Star's divisive proposal, Premier Gladys Berejiklian said the government would develop new planning controls to turn the Pyrmont area into the "gateway to the CBD".
Planning and Public Spaces Minister Rob Stokes said on Wednesday the timeframe for developing those controls was "breathtakingly quick".
"We're talking about doing it over a period of one year," he said.
"We believe that is possible, but it's also going to involve a lot of frenetic activity and focused work in truly identifying the opportunities that exist for all of us.
"I want [the precinct] to be a shared vision, because that's what will make it work."
Cr Moore said the transformation was an "opportunity to look beyond the IPC decision on The Star casino tower, and move away from site-based, ad-hoc planning proposals".
She said the planning system had "utterly failed both the community and the proponents of The Star tower".
Cr Moore said the renewed precinct "should be serviced by up to three metro stations" and "bulldozing the Western Distributor would open up sites for development and remove the barriers to walkability".
Source: The Sydney Morning Herald