In Aboriginal history, Barangaroo was a powerful Cammeraygal woman of the Eora Nation and a key figure in local Aboriginal culture and community. Historically, she was also once married to Bennelong, after whom Bennelong Point was named and now the site of the iconic Sydney Opera House.
The Gadigal are the traditional owners of the land on which Barangaroo now stands and are a clan of the Eora Nation. Because of the confluence of freshwater and saltwater around Goat Island, the area was vey fertile, and used for fishing and hunting.
European settlement in the late 18th century saw the transformation of Sydney Harbour into a thriving international port. In 2003, the port facility was rendered unsustainable and it was announced that a new urban precinct would be developed at East Darling Harbour, on the site of what is now Barangaroo.
For see here for more information.