Blackwattle Bay Benefits Realisation Strategy

The Challenge

The Blackwattle Bay redevelopment is a major urban renewal initiative to transform the precinct into a world-class harbourside destination. Central to the NSW Government’s vision is relocating the Sydney Fish Market (SFM) and repurposing the existing site for open space, housing, and public infrastructure. To secure funding and align with Infrastructure NSW’s Benefits Realisation Framework, the challenge was to quantify the project’s long-term economic, social, and environmental value.

The Action

Polis Partners developed a Benefits Realisation Strategy to support the business case, focusing on:

• Increased tourism and visitor spending through an upgraded SFM
• Urban renewal outcomes including land value uplift and mixed-use development
• Enhanced public access via new foreshore promenades and open space
• Government revenue gains and infrastructure cost efficiencies
• Environmental and social improvements, including reduced emissions and better transport links

The Results

The cost-benefit analysis confirmed a net societal benefit, supporting Infrastructure NSW’s funding application and investment planning. The strategy provides a robust framework for tracking long-term outcomes and ensures the project delivers on its economic, social, and environmental objectives in line with government policy.