The Market Street Entertainment Precinct is part of the Newcastle Urban Transformation and Transport Programme (NUTTP) which has been established to deliver the NSW Government's commitment to revitalise the city centre through: the truncation of the heavy rail line at Wickham and creation of the Newcastle Transport Interchange; the provision of a new light rail line from Wickham to the beach; and the delivery of a package of urban transformation initiatives.

The Market Street Entertainment Precinct includes the former Newcastle Signal Box and associated buildings. The development aims to create a place where people can play, relax and reconnect with the harbour in a new public space stretching from Scott Street to the waterfront. The project generally includes:
* A new city parkland space that provides the opportunity for small programmable events, i.e arts, music and outdoor cinema
* Tree planting to provide shade and shelter
* A new at-grade pedestrian crossing of Wharf Road at Market Street to replace the former overhead bridge
* Formal hardstand around the Newcastle Signal Box with water feature
* Wide linear pathway sweeping from Scott Street in west to Wharf Road on the east
* Adaptive reuse of the Newcastle Signal Box

For further information please refer to the RFT Documents.