It is currently accepting expressions of interest for major new hotel developments across New South Wales.
The authority is promising to cut red tape, fast-track approvals and offer planning assessment support to hotel developments worth at least $200 million as the government looks to fulfil its ambition to massively increase hotel room stock in the state over the next decade.
“We want to attract major investment to NSW, so we have created this new mechanism to systematically identify major projects and their associated land use before they enter the planning system,” said the NSW planning and public spaces minister, Paul Scully.
“Just as we created the HDA [Housing Delivery Authority] to fast-track housing, we are now reforming the process for major new investment projects, so their needs are identified early, and the right resources and infrastructure are planned for and brought to bear.
“As part of the IDA, we will establish a dedicated planning assessments team within the Department of Planning, Housing and Infrastructure, because we know the important role planning can play speeding up and in coordinating resources investment approvals.”
This round of expressions of interest is open for four weeks, with October 27 the final day to submit proposals. Multiple rounds of EOIs are expected each year for the Investment Delivery Authority, which is also targeting projects valued at $1 billion or over in data centres, technology, renewable energy and energy security.
“The Minns Labor Government [has] set an ambitious target to grow our visitor economy to $91 billion by 2035, to achieve this, we need to deliver more than 40,000 new hotel rooms in NSW,” said the state’s tourism minister, Steve Kamper.
“By including a pathway for hotels in the new Investment Delivery Authority, we are unlocking the private capital that will help turbocharge our state’s visitor economy.”
EOIs can be submitted via the Investment Delivery Authority website.
