The graphics below are from the Development Application, document "Appendix D - Golf Course Plans Part 1 - Cook Cove Southern Precinct". They cover the same area. The one on the left shows the vegetation to be cleared in red. The one on the right shows parts of the golf course.
As you can see, the Spring Street Wetland is going to be obliterated.
From what I can gather, at least the main body of water in the Landing Lights Wetland is going to survive. But the wetland would be compromised by having golf lawns going right up to the water bodies. I am not a Wetlands expert but I understand the ground around the water bodies of a wetland to be an important part of the wetland. That would be consistent with a sign at the Landing Lights Wetland which says "Migratory Bird Habitat - Your co-operation in keeping to walking tracks would be appreciated". And with another sign which states that disturbance of the land is prohibited by the Threatened Species Conservation Act. But in any case, unfettered access would be lost.
Wetlands perform a role in filtering pollution out of the water and thereby protecting the water ways and oceans. But urban wetlands are also valuable in their own right because of their rarity. What's more, different wetlands have a completely different look and ambience. The Landing Lights Wetland is quite open and the Spring Street Wetland is dark and wooded.