I support this proposal.
Parramatta Rd is in desperate need of investment and revitalisation and I think anything that gets foot traffic through the area is a net positive. Such interventions will improve the chances of the shops below this and any other commercial property that opens nearby.
In addition, we have a shortage of hotels which increases the popularity of Airbnb, which in turn cannibalises residential housing supply. We should view this as a general accommodation crisis which can be resolved through the construction of both new hotels and new apartments.