The University of Sydney was established in 1850 on a hill over-looking the current city centre. It is ideally placed for access to amenities and attractions, and has many hotels within reasonable walking distance. Sydney is also served by an extensive bus and train network, with many buses running from the city centre directly to the University. The closest rail stations are Central and Redfern, both within easy walking distance of the University.
The easiest way to travel from the airport to the city or the University is to catch the train. The ride to Central Station takes only 10 minutes. The taxi fare to the city or the University should be about $40 (Aus).
Note, there are several large universities located in Sydney. Dark2007 will be held at "The University of Sydney, Camperdown Campus".