The Perth Waterfront Taskforce has been given 12 months to come up with a new concept plan and business case for the modest redevelopment of the city's foreshore.
The mandate comes after the state government scrapped Labor's bold development plans, where stage one was estimated to cost $300 million.
Planning Minister John Day said the Taskforce will review the objectives of the project, with a report due to be delivered by mid-September.
The concept plan and business case, along with associated studies, will be delivered within 12 months.
Mr Day said Labor's plans for tall towers to be built near the river were "inappropriate" for the city.
"The simplistic approach that 'bigger is better' would not have resulted in the best outcome for Perth," he said.
"We need to integrate the waterfront amenity with recreational, entertainment, tourism, commercial and residential activities - and not be obsessed with high towers right on the river."
He said aspects of the redevelopment may include a significant building at the end of William Street and better designed and integrated high-rise development which will be closer to the Convention Exhibition Centre.
