As Sydney's main street and believed to be Australia's first street, George Street has a lot of historical significance. Now, the Urban Land Institute has launched an ideas competition with the theme "transforming spaces into greater urban spaces" to re-imagine George Street. The City of Sydney and the NSW Government have a current proposal to transform George Street with a $2.1 billion light rail line already underway. The City’s draft George Street 2020: Public Domain Activation Strategy, prepared in collaboration with Gehl Architects, proposes to create a pedestrian boulevard along George Street. The competition invites young designers aged under 35 to propose urban interventions of a physical, operational or digital nature with a focus on social, cultural and ecological benefits. They're looking for ideas which articulate a vision for George Street and add economic, social, cultural and/or ecological value to the public spaces surrounding the new light rail. The competition will run in two stages. Stage one closes September 17, and the stage one winner will receive a $2,500 cash prize and mentorship for second stage of the competition, which is the ideas development stage which commences in October and closes November 13. A minimum of three teams will be selected to proceed to stage two, the winner of which will receive a $5,000 cash prize and a trip to the 2016 Urban Land Institute conference in the USA worth up to $5,000. The final winner will be announced in late November.