13/02/2008 - 22:00

Big tick for Mounts Bay

13/02/2008 - 22:00

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The $360 million Mounts Bay foreshore development was given the green light by the government this week, bringing to $2 billion the social infrastructure commitments made by Alan Carpenter in the past week.

The $360 million Mounts Bay foreshore development was given the green light by the government this week, bringing to $2 billion the social infrastructure commitments made by Alan Carpenter in the past week.

The Mounts Bay foreshore, possibly the most delayed infrastructure project in the state, harks back in various forms for decades.

Like its predecessors, the new concept uses land reclamation and road realignment to make the most of the site, which has long been considered the best public space to begin linking the city with the Swan River.

The state will use the funding to prepare the site, including land reclamation and road realignment, before allowing the private sector to fund and construct commercial elements.

Mr Carpenter, who was speaking on Wednesday at the Committee for Economic Development of Australia’s annual economic and political overview, added the Mounts Bay foreshore project to the $1.1 billion commitment to a new multi-sport stadium at Kitchener Park in Subiaco and $500 million promised for a new Western Australian museum at the site of the former East Perth power station.

The go-ahead for those projects was endorsed by the state’s peak business body, the  Chamber of Commerce and Industry WA.

The premier last week also launched the newly created Office of Strategic Projects to oversee the delivery of the state’s most complex and long-term projects.

The Mounts Bay foreshore development decision leaves the $330 million Northbridge Link as the only outstanding development on the priority list of projects for the state’s capital city.

Northbridge Link will connect the central business district to the Northbridge entertainment district, covering the railway line east of Lake Street and incorporating space currently occupied by the defunct Entertainment Centre, owned by media magnate Kerry Stokes.

It was expected to have been included in last year’s state budget but was delayed due to concerns about development from a number of parties.

Further consultation is expected to have the project ready for inclusion in the 2008-09 budget, giving Mr Carpenter the opportunity to make another big social infrastructure announcement well ahead of announcing the next election, due by early 2009.

The Mounts Bay precinct idea, often compared with Sydney’s Darling Harbour area, will offer entertainment, tourism accommodation, shopping as well as some residential and office use.

The project list means state construction projects will compete against private sector needs, with an apartment and office building boom in Perth as well as significant resource developments in the regions.

Construction of the new museum is expected to begin in 2012 and finish in late 2015.

The construction of the sports stadium is to commence in 2011.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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