Barangaroo is one of the most ambitious urban renewal projects in the world today. Situated on Sydney Harbour, along the city's western foreshore, the precinct embodies world-class design excellence and sustainability. The project is transforming a former 22-hectare container port into a $6 billion thriving public, residential and commercial precinct on Sydney's waterfront for people to work, live and play. On the north-western headland, Barangaroo Reserve is the city's spectacular new six-hectare urban park, built using bridge technology to sit above a massive cultural space called the Cutaway.