The redevelopment of William and Park Streets took 38 per cent of the $38.1 million. This is the final part of the 'Gateway Project' - taking the opportunity of the projected reduction of traffic on William Street to beautify and redevelop this street as a gateway approach to the CBD. This phase includes changes to parking arrangements, removal of a median strip, and widening of footpaths.
This redevelopment is the main example of 'public domain improvements' that the Richmond Report said should not be funded by the users of the CCT. It could not have been covered in the original contract, as it implements the results of consultations that the Minister for Urban Affairs and Planning's approval required be carried out after the contract was signed.