$300m Waterfront project moving ahead

The state government's $300 million Perth Waterfront project has moved a step closer to reality following Cabinet's consideration of the business case, supporting critical decisions enabling the project's progression.

Premier Colin Barnett said this is critical project, which finally connects the Swan River with the CBD, is something the people of Western Australia have been waiting on for a long time.

"The project is a major priority for the State Government and it is my expectation that construction on the Perth Waterfront Project will commence in early 2012," he said in a statement.

"The project is expected to require between $255million and $300million of State Government funding. However, this will ultimately depend on the value of land which is made available to the private sector."

Funding for the Waterfront will be addressed in the 2011-12 State Budget.

In the 2010-11 State Budget, the Government allocated $21.5million over the next four years, most of which will be spent over the next two years, for essential planning and approvals elements of the project.

Full announcement below:

State Government makes further progress on Perth Waterfront
Portfolio: Premier, Planning

The creation of a vibrant, new area for the city made another step forward following Cabinet consideration of the business case for the Perth Waterfront project.

Premier Colin Barnett said he was determined to see the project become a reality and was pleased Cabinet had supported critical decisions enabling the project's progression.

"This Government is turning the Perth Waterfront Project into a reality - this is a critical project which finally connects the Swan River with the CBD and is something the people of Western Australia have been waiting on for a long time," Mr Barnett said.

"The project is a major priority for the State Government and it is my expectation that construction on the Perth Waterfront Project will commence in early 2012.

"The project is expected to require between $255million and $300million of State Government funding. However, this will ultimately depend on the value of land which is made available to the private sector."

Funding for the Waterfront will be addressed in the 2011-12 State Budget.

Planning Minister John Day confirmed key governance arrangements which would guide the project through its next phase.

"The East Perth Redevelopment Authority (EPRA) will work closely with the Department of Planning on the expectation that responsibility for the project's implementation will ultimately transfer to the proposed Perth Metropolitan Redevelopment Authority," Mr Day said.

"EPRA is leading the way with a number of other major urban regeneration projects which will dramatically improve our city - such as Perth City Link, major works to the Cultural Precinct and the Riverside project, so it is logical their expertise is utilised to deliver the Waterfront project."

Cabinet also approved the transfer of all Crown land within the project area into the ownership of the Western Australian Planning Commission (WAPC).

"In order to plan for and co-ordinate development of the Perth Waterfront it is important that, where possible, all land is held under the control of a single agency," Mr Day said.

In the 2010-11 State Budget, the Government allocated $21.5million over the next four years, most of which will be spent over the next two years, for essential planning and approvals elements of the project.