Thursday, 26 April 2012 08:58
Western Australia's Premier Colin Barnett marked a new chapter in Perth’s history today as work commenced on the Perth Waterfront project.
The A$440 million project will transform 10 hectares of prime riverfront land into a vibrant and contemporary development, reconnecting the central business district with the Swan River. The development will be set around a 2.7 hectare inlet and be connected by promenades and boardwalks.
In addition to the WA Government's A$440 million funding, the project is expected to attract A$2.2 billion of private sector investment.
“This is a very exciting time for Western Australia - a period of significant transformation, renewal and development that will change the face of Perth and ensure our city can accommodate a rapidly growing population,” Mr Barnett said.
“Perth Waterfront will deliver a new destination that continues the public’s use and enjoyment of this area of the city and address the critical need for more residential, commercial and hotel accommodation in the CBD.”
The State Government has awarded a A$50 million forward works contract to Georgiou Group - one of two major construction packages for Perth Waterfront.
Constuction of the inlet will begin later this year, with the inlet and public sector realm due for completion in mid-2015. Private sector developments will complete at a later date.
The forward works program for Perth Waterfront also includes transport access and upgrades, jetty reconstruction, demolition of existing buildings and structures on the Esplanade Reserve, and archaeological investigations.
When completed, Perth Waterfront will provide more than 1,700 residential, hotel or serviced apartments, 150,000 square metres of office space and 39,000 square metres of retail space. Together with Perth City Link, Riverside and the Perth Cultural Centre, the project will revitalise central Perth.
The Premier said three major industry players had been shortlisted for the next stage of work, estimated at A$200 million, to construct the inlet, development sites and public realm.
More information on the project can be found on the Metropolitan Redevelopment Authority website here.