Ryde. 'Good economic sense'

Ryde City Council says the proposed Ryde Civic Precinct makes good economic sense for the city. It would provide much needed facilities for Ryde at a fraction of the cost of maintaining or refurbishing the existing council administration building, council said. The alternatives - do nothing or refurbish the existing building - would cost council more. Do nothing and the council would spend money until the building fails, council said. Refurbishment would cost council considerably more (estimated at this stage to be $39.2 million) than the proposed development with none of the community benefits. Council’s asset value would increase to $79 million and council would maintain ownership of its facilities and the land on which they are situated.