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Pyrmont's Evolution In The Context Of Urban Development And Globalisation

864 Words4 Pages

Economic forces shape cities' growth and evolution in the context of urban development and globalisation (Sassen, S. 2005). The urban landscape of Pyrmont, one of Sydney's leading global cities, illustrates this concept through gentrification, urban consolidation and deindustrialisation. Over the years, Pyrmont has undergone significant changes, reflecting broader economic shifts. Using primary evidence sourced from archival materials and academic literature, as well as photographic data collected during the field trip, this essay aims to identify and discuss ways in which Pyrmont's urban landscape provides evidence of Sydney's emergence as a global economic city. Pyrmont's gentrification reflects Sydney's evolution as a global city. Bounds, M., & Morris, A. …show more content…

Pyrmont, specifically Jacksons Landing located on 57 Bowman St, once an industrial area for colonial sugar refineries and distilleries, has undergone extensive redevelopment, attracting affluent residents for wealthy families. There has been a wave of new gentrification constructed exclusively for local CBD workers and empty nesters, aiming to cultivate a sense of exclusivity and gated community. This is the result of Pyrmont evolving into a desirable area because of its proximity to Sydney's CBD and waterfront location. While isolated houses in the city were highly desired after post-WWII, a notable shift occurred in the 1990s as the working class began to vacate the area amidst the closure of industries. Changes in global sugar markets, such as competition from other producers and fluctuations in sugar prices, made it economically difficult to carry out

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