Construction is set to begin at Cedar Woods’ $100 million Eglinton Village, as the state government flags the possibility of more delays in bringing the train line to Yanchep.
Construction is set to begin at national property developer Cedar Woods’ $100 million Eglinton Village, as the state government flags the possibility of more delays in bringing the train line to Yanchep.
The Australian Securities Exchange-listed developer purchased the 86-hectare site about 45 kilometres north-west of Perth for $49.5 million in November 2021, where it plans to build more than 1,260 homes, a school, commercial retail and open space.
Cedar Woods hosted a sod-turning at the site this morning, with civil works on the new Eglinton Village set to begin on the first stage next month.
Stage one titles are expected to be delivered early next year, with first residents to be welcomed in late 2024.
The development, estimated to be worth more than $100 million, is situated within one of the fastest growing local governments in the country and will be within walking distance of the future Eglinton train station.
The City of Wanneroo anticipates it will welcome a further 150,000 people over the next two decades, more than one-third of whom will settle in the Alkimos and Eglinton area.
Cedar Woods state manager Ben Rosser said the company hoped to develop a thriving, modern village, just 1.9km from the coast and within easy walking distance of the state government’s planned Eglinton train station.
“This village will provide our residents with a truly connected community,” he said.
“We’ll be commencing work in September, and that's happened rapidly, considering we only bought this land just nine months ago.
“As a business, Cedar Woods has a long history of creating world-class, transit-oriented developments across the country.
“We're really looking forward to joining this fast growing corridor and providing a quality residential offering to local buyers.”
Attorney-General and Member for Butler John Quigley said the state government had been working hard to deliver more infrastructure to the northern corridor, with the Mitchell Freeway extension well under way.
But he did flag the possibility of more delays to the long-awaited 14.5km rail extension between Butler and Yanchep, which will bring public transport to the estate.
The line is one of two projects deliberately delayed by the state government almost a year ago in a bid to smooth out the development pipeline and ease pressure on the overheated construction sector.
Mr Quigley said the $712 million rail project was on track to open in late 2023, but could be delayed until early 2024 due to ongoing pressures in the industry.
“This area is at the epicenter of growth here in Western Australia,” he said.
“It used to be a street a week, but I believe it’s now being developed faster than that.
“And these communities want infrastructure.
“That's the job of the state government; working with the local government to deliver infrastructure and then the private sector comes to actually do that development.
“I'm very pleased to confirm that we're well on the way in the planning of the huge new aquatic center out here in Alkimos, which will be accessible to all of the residents out here.
“We have promised to deliver the train line by the end of 2023, which may go into the start of 2024 because of the labor shortage and, of course, the freeway now is well underway.”
The project was tipped to cost a fraction of the current price when the McGowan government came to power in 2017, with a price tag of $386 million and an opening date of 2021.
But Cedar Woods managing director Nathan Blackburne told Business News those pressures were not expected to affect Eglinton Village, which he said would be delivered on schedule.
Cedar Woods purchased the site from private vendor Eglinton Estates, which it said would generate revenue for more than a decade.