In what will be a massive boost for Sydney's music scene, contemporary multi-arts centre Carriageworks has revealed plans to add a new live music venue to their existing buildings by 2021, which will also play host to multiple music festivals.
According to Fairfax, Carriageworks' 'Six-Year Strategy 2016-2021' report proposes to add a 5000-seat live music venue, as well as a 200-seat cinema, a public exhibition space and new bars and restaurants to the existing cultural centre.
It has been reported that the expansion will cost an estimated $50-$60 million and it's expected that Carriageworks director Lisa Havilah will seek government funding, after the centre received $3.8 million in state and federal government funding this year and earned $6.8 million from programs and events.
It is hoped that the new additions will attract two million visitors to the Eveleigh Rail Yards and earn $15 million annually by 2021.
The strategy also outlines plans to host a number of music festivals, high profile musicians and Asian pop music.
"We're not adding more buildings," Havilah said of the redevelopment plans.
"It's all within the existing envelope of Carriageworks."
The full report will be released next month.
The Music has contacted Carriageworks for further comment.
