The area that we're looking at was once part of Sydney's working cargo docks. It acquired the name "the Hungry Mile" during the Depression when workers would line up in the hope of a day's backbreaking work which may damage their health in the longer term, but would put a bit of bread on the table for that night at least. The cargo docks have long since closed down, although for a significant amount of time this area was used for the berthing of cruise ships. They now generally make their way a bit further down the harbour to White Bay which is near... nothing in particular, so that passengers need to be ferried in to the city.
When it was decided to reconstruct the former dock area into a supposedly modern combination of residential and commercial usage (not to mention a high roller casino that one of the nation's wealthiest men just happened to get approved, all for the public benefit, of course), the area was rechristened Barangaroo after an aboriginal woman from settlement times who may or may not have had even the vaguest connection with this area. However it sounds culturally sensitive, and that's the important thing.
In any case, what we can see here is the beginning of the construction of the new buildings that are due to line the foreshore of the former dock lands. One advantage is that the construction company is one which has a pretty decent track record to date.
I shall continue to document the progress of this construction and in due course you'll be able to judge for yourself.