But Wollongong, like Newcastle, must also remember how it has been shaped by the steel industry and its coal mining roots.

"My view is that will remain an important factor in Wollongong's future for another 40 years or more in one way or another," Mr Salt says.

He suggests Wollongong's journey will largely mimic Newcastle's turnaround after BHP closed its steel manufacturing operations in 1999.

"In Newcastle, there were a whole series of diversifications and new developments and it signalled almost a rebirth of Newcastle. I think that is what Wollongong will do over the next 40 years," Mr Salt says.

"It will see a far greater diversity and will be based increasingly on tourism, accommodation, communication and I think there will be more Sydney escapees and people moving into the city for the lifestyle."

Mr Salt proposes Wollongong should "cherry pick" the ideas that have worked for other cities - like establishing a Committee for Wollongong, similar to the Committee for Geelong.

"What you want in Wollongong is the best of the benchmarks from other cities and you want to avoid the worst," he says.

Regional Development Australia Illawarra chair Eddy de Gabriele is firmly against "copying" other cities.

"We have all we need. We have the intellectual capacity, the professional and commercial capacity to determine our own destiny," he says.

He suggests copying another city's model is the "safe" option that removes the debate.

"We want a vibrant city and a mature city that other regions want to copy. We want to live in a city that others want to emulate. We don't need to copy others," Mr de Gabriele says.

Prof Sutton flags information technology as one of Wollongong's many new industries being developed out of the Innovation Campus but agrees Wollongong shouldn't model itself on what other university cities have done.

"It is important because we have the strongest faculty in the country. But we would be silly to build a city around just one industry," he says.

"The Innovation Campus is developing new materials that could be used in other countries and we are hoping it could spawn a new industry in the Illawarra. That is quite different to anything else being done in Australia and is probably only being done in one or two other places in the world."

The $50 million Australian Institute for Innovative Materials Processing and Devices Facility - now being constructed at the Innovation Campus - will transform ideas from the Australian Institute for Innovative Materials into marketable prototypes. It could produce everything from artificial muscles and cochlear implants to new types of batteries.

Mr Salt says Wollongong needs to launch itself on to the global stage with a world class event and by branding itself as the capital city of the entire South Coast.

But Prof Sutton believes the university is already giving Wollongong an international profile.

It was ranked in the top 2 per cent of the world's 20,000 universities in the 2009 Times Higher Education - QS World University Rankings.

"That brings attention to the city. But it also means the citizens of the city and students are exposed to the cultures of 60 to 70 other countries who send their students to this university," he says.

"I see the University of Wollongong as being very regionally based but it is also a bridge for our city to all these international countries."

Many of the world's top universities - including Oxford and Cambridge in the United Kingdom and Stanford and Harvard in the United States - are outside major cities.

With the Illawarra's population expected to balloon from around 282,000 now in Wollongong, Shellharbour and Kiama to 325,000 within the next 20 years, Mr Salt says that will automatically generate construction of houses, roads and infrastructure.

Mr Gabriele and RDA Illawarra acting chief executive Natalie Burroughs agree the growth will happen automatically, as long as the city can attract big business and industry.

"Road and rail infrastructure will naturally lead on from growth of the port," Mr de Gabriele says.

"We expect to see improvements to Picton Rd, the Maldon Dombarton rail link and instead of Wollongong wanting to extend the F6 to Sydney, there will become a need for Sydney to bring its freeway to Wollongong."

The Innovation Campus and the port will also feed new development in the city centre.

"Businesses will be looking for office space or operational space and it becomes like pieces of a jigsaw puzzle," Mr de Gabriele says.

"Wollongong CBD will be in strong demand because it provides businesses with a natural geographical identity. They will want to be in the city centre if they are a company that operates globally or nationally. People want to be in the city for no other reason than to say they are one of the big boys."

Increasing employment within the city centre is also a key objective for Wollongong City Council general manager David Farmer.

"It is critical for the long-term success of Wollongong and the Illawarra that our CBD is strong as an employment hub," Mr Farmer says.

"Unfortunately people see retail as the only component of the CBD, but it is also about office space."

Mr Farmer says the precinct from the Innovation Campus at Fairy Meadow to J J Kelly Park at the southern end of the CBD provides more than half of Wollongong's employment and is often underestimated for its significance on the job front.

The Gong Shuttle has been important strategically in enhancing the link between the Innovation Campus and the city centre and Mr Farmer says it represents much more than just a free means of public transport.

Residential development in the city will become an increasingly common feature of new buildings. Mixed-use developments with residential apartments above multiple levels of office space are already proposed in locations including Regent, Crown, Rawson and Atchison streets.

The economic slowdown has ensured most of those approved are yet to be built.

Mr Farmer says the new Wollongong Local Environmental Plan and development control plan make it clear that while residential is important, it is not appropriate in the "commercial core" of the city.

"The absolute city core is designed to minimise impacts on residents, because there are conflicts," Mr Farmer says.

"Residential around the CBD however supports a vibrant CBD. People will naturally walk to work and to the shops if they live close to the CBD."

Mr Salt says the city needs a facelift while Mr Farmer doesn't argue against that, noting that the city still has some way to travel to get its "built form" right.

"The city centre is dated. I was there 12 months ago and I believe it was probably cutting edge 25 years ago. But it needs to reflect well on the city," Mr Salt says.

Refurbishing Crown St Mall will be pivotal to changing the feel of the city centre, with the council administrators last year voting to remove the tired birdcage over the mall. Although Crown St will remain closed to traffic, the first steps are being taken towards plans to reopen the Keira St transit mall to southbound traffic by June and northbound traffic by Christmas.

Reviving the city will largely depend also on the contribution of private property owners making sure their buildings are well presented and maintained.

Mr Farmer says the council's key role in overseeing development in the city is to enhance the "liveability" of the city.

"It is about accessibility of cultural facilities, transport, social services, safety and social cohesiveness. If we make it a good place to live, that will in turn attract and retain people who are likely to create opportunities.

"From the Blue Mile to CCTV cameras in the mall, funding for the art gallery and performing arts centre and supporting community, sporting and cultural activities - they all make the city liveable."

The Blue Mile has been a major investment for the council, with Mr Farmer arguing it is as much about giving residents a space to enjoy as it is about tourism.

Shared pedestrian cycle ways along Marine Dr and Endeavour Dr, a makeover of Andrew Lysaght Park and substantial work at Brighton Lawn have already been completed. The first stage of the Cliff Rd promenade, including a timber viewing platform, opened in time for Christmas and a cliff-top walk on Flagstaff Hill is under construction.

American author and economics professor Richard Florida turned city planning around the world on its head about six years ago with his bestselling book The Rise of the Creative Class.

His theory was that cities that attract creative individuals, accepting and encouraging diversity, are those which will flourish most.

Being multicultural, creative, bohemian and inclusive - or the three Ts of tolerance, talent and technology - are the key to wealth and prosperity in cities.

The message is one that Mr Farmer has taken on board as being relevant to Wollongong.

"If you can attract the creative class, you can attract people who want to live in your area who are creative and talented and that will lead to more opportunities," Mr Farmer says.

Attracting those people again comes back to liveability.

"You create liveability and from there comes a spectrum for vibrancy, economic growth and the happiness of your people," he says.

Mr de Gabriele believes the appealing lifestyle will lure both tourists and families wanting to settle down.

"Wollongong, Shellharbour and Kiama are becoming great places to work where you don't have to travel," he says.

"The ultimate aim is for a city where we want to raise a family, have a career, have a great break and enjoy leisure activities."

Mr de Gabriele says the city's priorities are not only economic.

"You can't just have a city full of professionals, engineers and university graduates. You will always have the other end of the social spectrum with the long-term unemployed, the disabled, the elderly. You need to provide for them also."

On the tourism front, Mr Farmer says Wollongong's proximity to Sydney presents a challenge in trying to differentiate the region.

But it also provides an opportunity with a captive market of four million people looking for short breaks and weekend escapes.

"One of our real challenges is to turn visitation into yield. Instead of coming for a swim at the beach, we want them to also stay, shop and spend money," he says.

"The last two places I worked were remote. But one of our challenges with tourism here is we are still very close to Sydney."

He says it is the dual goal of liveability and tourism that is driving the council's investment in the Blue Mile and city centre revitalisation projects.

Mr de Gabriele says the key will be focusing on achievable projects - such as the Blue Mile, Maldon Dombarton rail link and Illawarra Regional Airport expansion - rather than unrealisable dreams such as a high-speed rail link to Sydney.

By focusing on achievements rather than disappointments, Wollongong's stakeholders can arrive at the city we want.