Port Bouvard gets OK for Point Grey

Residential developer Port Bouvard has received final environmental approval from the federal government for its Point Grey 3,000-lot master-planned community near Mandurah

Port Bouvard announced today the federal Department of Sustainability, Environment, Water, Population and Communities had given its nod for the project, the final approval needed for the residential component of the development.

Port Bouvard chief executive Johnno Wroth said the approval was a major milestone and value driver that would be an important factor in the company securing long-term funding arrangements.

“The company has worked closely with both the state and Commonwealth agencies over the last three years to ensure the highest level of environmental outcomes will be delivered on this unique project,” Mr Wroth said in a statement.

Mr Wroth said environmental assessments for the marina component were well advanced, with state and federal decisions anticipated in coming months.

He said the company would begin development at Point Grey upon receipt of the marina environmental assessments and the required capital funds, if underpinned by a steady improvement in residential market conditions.