The state opposition has called on the government to explain a $16 million funding hole for the $880 million East Perth Riverside redevelopment project, which is competing with two other major Perth city projects for investment capital.
The state opposition has called on the government to explain a $16 million funding hole for the $880 million East Perth Riverside redevelopment project, which is competing with two other major Perth city projects for investment capital.
The state opposition has called on the government to explain a $16 million funding hole for the $880 million East Perth Riverside redevelopment project, which is competing with two other major Perth city projects for investment capital.
Planning Minister John Day yesterday signed off on a scheme amendment which will allow further development of the project in line with the 2008 master plan.
The project will create more than 3,400 new dwellings for 5,800 residents and 81,000 square metres of commercial and retail floor space for around 1,700 workers.
Mr Day said the government will invest $130 million, with the rest to come from private investment.
However opposition planning spokesperson Mark McGowan today said budget papers reveal the government has committed only $114 million, leaving a deficit of $16 million.
"This discrepancy is either an act of ineptitude on the Minister's part, or he is trying to exaggerate the Barnett Government's contribution to the project," Mr McGowan said.
"Alternatively, there is some aspect of the project that will be axed.
"Whatever the case, the Minister needs to immediately shed some light on the difference in the $130million investment amount spruiked in his media statement and the figure in this year's budget papers."
Mr McGowan added he agreed with Perth Lord Mayor Lisa Scaffidi that the government was not adequately prioritising upcoming redevelopments in the city.
"The strain on investment capital for the three major Perth redevelopment projects could well result in three sub-standard outcomes if some rigour is not applied to their implementation," Mr McGowan said.
The other projects, which Mr Day said took precedence over the East Perth project, were the Northbridge Link and the Swan River foreshore development.