The government is consulting the public on three"precinct plan scenarios"that will shape the revamp of Blackwattle Bay. The area was first designated as a future apartment,employment and dining hub in 2013.
Infrastructure NSW says the rezoning of 5.4 hectares of land for up to 1700 dwellings and 7000 jobs will"deliver new open space and return inaccessible parts of Sydney Harbour to the public for the first time in decades".
But independent Sydney MP Alex Greenwich says the proposals are a"massive overdevelopment",while City of Sydney lord mayor Clover Moore is"concerned about the direction"of the plans.
"Anyone who has been to where the fish market currently is knows it's a small,tight block of land and all the proposals put forward include multiple skyscraper towers,"Mr Greenwich said.
"The proposals look like they are privatising the harbour foreshore and selling it off to the developers,so that's a concern."
Under the potential schemes,the"state significant"development would comprise a largely residential area,an"innovation corridor"for technology and creative industries,or a"balanced"precinct of apartments and offices.