On 1 March 2017, Rob Mason, former chief executive of RailCorp was appointed as the new chairman of the board, replacing Peter Lowry.

In November 2018, plans were announced to move Transport Heritage NSW items currently stored at Eveleigh Railway Workshops and Broadmeadow Locomotive Depot to a secure undercover storage facility in part of the Chullora Railway Workshops to be known as the Chullora Heritage Hub.

[8] In August 2022, former NSW Premier Nathan Rees was appointed as the new chair of the board, replacing Rob Mason.

More notable events include the Thirlmere Festival of Steam in partnership with Wollondilly Shire Council, and the Transport Heritage Expo.

All assets previously owned by the NSW Rail Transport Museum are in the collection.