The following is section 39 of a City of Sydney Council document
The site generally was a former swamp prior to development as the former Metters factory, which closed in 1973. This former use has left a legacy of contamination. It is understood that Macquarie Goodman has undertaken some preliminary investigations regarding site remediation, and that a significant cost may result from remediation. Council recognises this is a substantial cost, however Macquarie Goodman are inferring that the FSR* should be set to allow them to compensate for the costs of contamination and stormwater management works. They note in their submission that their motivation as an organisation is to provide “a good return to the unit holders of the Macquarie Goodman Trust” which is demonstrated by their through indicative plans which are proposing an FSR of 2.0:1,and built from that will dominate the surrounding area with buildings that are up to 12 storeys (40m).
* FSR - Floor Space Ratio |