Beginning in the early 1990's significant gentrification of old industrial sites occurred in Pyrmont, with the old sites being transformed into residential, commercial and community sites. Old residential townhouses have been refurbished to medium height terraces which are very attractive to the young wealth of Sydney. The most significant land use changes include; the development of Star City Casino at the old Pyrmont power station, the construction of 500 luxury apartments at the Goldsbrough Mort Wool Site, the development of a Novotel hotel complex at unused railway yards and most recently the construction of an enormous residential and commercial development at the old CSR site. Although these changes have altered the buildings uses, the Visard of the building is still the same. This keeps the character of the Suburb the same but the modern living style is also intervened. This change in the buildings has changed Pyrmont from a lower class suburb to a thriving, popular and wealthy suburb. .
To conclude, the impacts of population increase, transport advancement, and refurbishment of buildings, all caused by Urban Renewal has changed Pyrmont dramatically. The uses of Pyrmont are now residential and commercial which are thriving due to the perfect position of the suburb. .
Urban Renewal is the upgrading of parts of a city through redevelopment. Pyrmont is a suburb which has unfortunately decayed but also been Renewed over the past ten years. This Renewal has changed the character and functions of the Suburb from one end of the scale to the other. Through transport Improvements and redevelopment of Buildings the population and employment has sky-rocketed. This can be seen by the close studies of the Suburb's changes, and the dynamic of Urban Renewal can be observed. .
In the 19th Century and early 20th Century the suburb of Pyrmont was an important part of Sydney, much like many of the other suburbs surrounding Sydney's CBD.