The development application will be on exhibition until 13 December. The renovations are expected to cost approximately $58 million. This venue has been deemed ‘unsafe’ due to the run-down state it is in. The annual New Year’s Eve fireworks event was cancelled due to safety concerns.

The venue has previously warned it may be forced to close is it does not secure the funding necessary. Earlier this year, North Sydney Olympic Pool was able to secure a $10 million commitment of funding from the Federal Government.

“Council recognises that the Pool plays two roles in our community,” mayor Jilly Gibson has said of Council’s plans.

“It is a much-loved and well-used local facility but it is also a Sydney icon that attracts people from across the world.”

North Sydney Council is still looking to secure funding from the State Government. Plans have been developed to include a new 50 metre pool, a 25 metre indoor pool, and a family leisure pool with sunshade. There are also plans for a cafe adjacent to Olympic Boulevard with a children's interactive water play area, sundeck and gelato bar, a grandstand with shaded area.

“These plans will ensure the Pool continues to meet community needs and remains one of the best outdoor pools in the world,” Mayor Gibson said.

The development plans will be assessed by an independent planning consultant and reported to the Sydney North Planning Panel for determination.