But just months after Ryde's Liberal MP Victor Dominello handed over a novelty-sized cheque promising the new park in the heart of Macquarie Park, there are concerns the plans might not go ahead.

The Herald understands the state agency that manages the site, Government Property NSW, was involved in talks but never a signatory to the $6 million funding agreement for the park.

The park was earmarked for part of the 3.9-hectare site at 45-61 Waterloo Road, but the agency now plans to sell the commercially zoned lot.

A lease pre-commitment has already been signed and is creating pressure for a hasty sale.

The move to sell the site comes after months of discussions between Ryde Council and the agency broke down.

Ryde Council's general manager, Gail Connolly, said she was no longer confident the park would be built at the site and she was "extremely disappointed" the community might miss out on what was promised.

Negotiations are still under way in the hope that part of the site could remain free for parkland, she said.

A Department of Planning and Environment spokesman said: "NSW government agencies are working with Ryde City Council to deliver a park at the site."

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The Herald understands the $6 million funding agreement was tied to the Macquarie Park site and was conditional on the site being secured by June 30.

Ms Connolly has now written to the government to ensure the funding will remain available for a park elsewhere in Macquarie Park if it cannot be built at the promised site. However, finding space will be difficult.

Ryde Labor councillor Jerome Laxale, who ran against Mr Dominello at the state election, said there was no other similar parcel of land available in the suburb.

The promised site was ideal because it was free of major structures, government-owned and in the middle of an area increasingly populated by workers and residents, he said.

"Macquarie Park is devoid of open space and unless the government honours its promise, this prime parkland will be lost forever," he said.

The suburb – which bills itself as "Australia's Silicon Valley" – is expected to expand significantly in the coming decade.

Ryde Council's planning proposal for the Macquarie Park corridor says a lack of open space will be exacerbated by the growth.

At the northern end of Macquarie Park, the Herring Road precinct has been earmarked by the state government as having the potential to accommodate 5400 homes for more than 11,000 new residents by 2031.

South of the suburb, the area around North Ryde station is also undergoing redevelopment, with 3000 homes and 1500 jobs set to be created.

Mr Dominello said the park would be of great benefit to the communitiy and he was working to "ensure a positive outcome".