Pyrmont Bridge Restoration Economic analysis
Client Name: Placemaking NSW
Industry: Tourism, Social infrastructure, transport
Capabilities: CBA, Economic evaluation, Financial evaluation
The Challenge
Placemaking NSW is responsible for creating and managing many of Sydney's iconic harbourside locations, including The Rocks, Barangaroo, and Darling Harbour. These areas are integral to Sydney's cultural and economic landscape, attracting millions of visitors annually. In line with its mission to enhance public spaces, Placemaking NSW is overseeing the restoration of the Pyrmont Bridge. This bridge is a crucial pedestrian and cyclist link between Pyrmont and Sydney's CBD, serving over 16,000 users daily. However, due to timber rot and other deterioration, it currently fails to meet contemporary structural standards and is at high risk of closure by 2030. Additionally, its heritage status, protected under the NSW Heritage Register and the Heritage Act 1998, necessitates urgent restoration to preserve its historical and cultural significance.
The Action
Placemaking NSW engaged Polis Partners to assess the economic and financial case for restoring Pyrmont Bridge. Polis evaluated three options, quantifying benefits including commuter time savings, heritage value, infrastructure resilience, and extended asset life. The analysis supported the broader business case and informed funding decisions.
The Results
Polis Partners delivered an economic and financial report to complement the wider business case, along with specific inputs for the economic and financial sections of the business case. This project was successful in accessing NSW Government funding.