Two politicians caught in the tentacles of the “top end of town”
The Berejiklian Government was always unlikely to unwind mergers because developers that had bought land along this Parramatta Rd corridor from the CBD all the way to Parramatta are expecting huge value-capture, by being able to develop it with the support of Administrators of the newly merged councils along Parramatta Road Their riding instructions included vapourizing opposition to the huge changes of planning controls needed to push WestConnex through these communities, and permit vast amounts of value-capturing higher density residential developments, inevitably controlled or financed by the “top end of town” – now known as the TETmen. Most of them went to Sydney’s best GPS schools, hence they are a very competitive and entitled mob, who see western Sydney as a ripe for profiteering, I mean value capture.
“And boy, do they know how to leverage the private school connections and interlocking directorships!”
The crux of the problem seems to have been that the well-informed, well-connected developers, who tied up a huge amount of land along the Parramatta Road corridor, might sue the NSW Government, if the local councils of Leichhardt, Marrickville, Ashfield, Granville, Auburn and Parramatta were restored and blocked the magnitude of expected developments along that very long and admittedly ugly route. This would have generated much higher court costs and liabilities for the NSW Govt than the current court cases against councils like Woollahra, Mosman, North Sydney, Hunters Hill, etc, would cost.
You know what the great corruption investigators like Kate McClymont at the SMH always say?
But there is still a lot of trouble on Team GB’s Cabinet table, because the investors in high density residential developments along the Sydney METRORAIL Northwest route from Rouse Hill – Epping – Chatswood – CBD – Waterloo – Sydenham are VERY upset that Baird abandoned the ship before ensuring the timely completion of that line, due to the huge delays in completion of Stage 1. Baird and Berejiklian were warned 12+ months ago that the project was in deep trouble, due to very poor workmanship, especially on the ambitious very long spans of the Sky Bridge.
These same investors are heavily committed financially, in many cases to Chinese based merchant banks, and are sharpening their meat cleavers and polishing cricket bats. Late delivery of the Sydney METRORAIL Northwest means much higher interest bills on their loans. Some of them will inevitably lose their shirts and probably make much smaller donations to the bagmen of the Liberal Party in NSW in 2017, 2018 and up to March 2019!
Watch the news papers and TV news for more information about the cost over runs and budget blowouts on the Sydney METRORAIL Northwest.