Concept photos for the redevelopment.

Concept photos for the redevelopment.Credit:NSW Government

“The scar of the Cahill Expressway splits our amazing city from its best asset,” Perrottet said. “While we cannot get rid of it right now,I’m delighted we can enhance it in the meantime and create one of the world’s truly great walks.”

The funding will go towards funding initial design work,planning approvals and a community consultation process before the government makes a final business decision,Treasurer Matt Kean said.

Kean,who will hand down his first state budget on Tuesday,said the redevelopment would “transform the world’s gateway to Australia” as Sydney prepares to welcome the 15 million visitors it received prior to the COVID-19 pandemic.

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“This renewal would create a more dynamic space for visitors and locals to enjoy new places to eat,drink and shop,” he said. “We’re considering options to upgrade the wharves and revamp the train station to reaffirm Circular Quay as a key transport hub for Sydney.”

Infrastructure minister Rob Stokes said Circular Quay had not lived up to its potential “for too long”,and the community would be consulted about how to revive the space.

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“This plan will see Sydney have the front door it deserves and better reflect the spectacular city we live in,” he said.

The announcement follows a $60 million proposal to build a 91-kilometre pathway snaking around Sydney’s waterfront and linking the Opera House to Parramatta Park.

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