The Sydney authority responsible for developing vast swathes of new public realm for the city has released its proposal for a one-hectare public park, an expanded waterfront walkway, a public pier and a new Harbour cove.

The Barangaroo Delivery Authority, on behalf of the New South Wales government, is planning the attractions to complete Barangaroo South – Sydney's largest urban renewal project since the 2000 Olympics.

Development firm Lendlease will construct the public space, due to open in 2021. World renowned landscape architects Grant Associates, who designed Gardens by the Bay in Singapore, have created the latest park and garden, now revealed in a series of renderings.

The design includes Waterman’s Cove, a fully-accessible amphitheatre-style boardwalk on the water and an extension to Wulugul Walk around the Crown Sydney Hotel Resort. The one-hectare Hickson Park will provide a green link from the city’s central business district into the heart of Barangaroo’s retail and dining precinct.

“The new harbour cove and public park represent the next step in the extraordinary transformation of Barangaroo from a 22-hectare concrete container terminal into a world class, vibrant waterfront precinct,” said Craig van der Laan, CEO of the Barangaroo Delivery Authority.

“This is an exciting proposal for the creation of more beautiful public spaces at Barangaroo, which will be of enormous benefit to the people of Sydney.”

A development application will be lodged with the department of planning and environment, and be available on public exhibition as part of the planning process.

Barangaroo South has been billed by Lendlease “as one of the most significant waterfront transformations currently underway anywhere in the world.”

The former container wharf is being transformed by a range of architecture practices into a new waterfront financial district, “with a mix of world class sustainable office space, premium residential buildings, as well as vibrant shopping, dining, hotel, hospitality and public spaces.”

Open public space will form more than half of Barangaroo when the development is fully complete.