Subiaco ratepayers earn $6m Subi Centro dividend

The City of Subiaco has received a $6 million dividend for its contribution to the success of the Subi Centro Project.

Planning and Infrastructure Minister Alannah MacTiernan today announced the payment to the City of Subiaco, which was an agreed 20 per cent of the cash surplus from stages one and two of the project.

Ms MacTiernan also said that planning control over 85 per cent of the project area had now been returned to the city from the Subiaco Redevelopment Authority.

"Subi Centro has been an enormous success," she said.

"In less than a decade, it has transformed dilapidated industrial and railway land into more than 800 dwellings, about 80,000sqm of new commercial and retail space, and an additional 3.5ha of public open space.

"This means homes for up to 2,000 people and jobs for almost twice that number, bringing new life and energy to Subiaco, Wembley and surrounding areas.

"Now, Subi Centro is the benchmark for local governments and local communities throughout the metropolitan area who want to rejuvenate their own town centres.

"Also, because of its achievement there is extensive international and interstate interest in the project."

The Minister said diversity had been a key to the project's success.

"Subi Centro includes housing, commercial and retail spaces to suit a wide variety of people and uses, to avoid it becoming a monoculture," she said.

"An important aspect of this development is that it fully integrates with the surrounding business and residential areas, hospitals, sporting venues and the railway station."

Ms MacTiernan said the State Government spending on the project would total about $135million, with approximately $500million more flowing on from private sector investment in new residential and commercial buildings.

The city would receive a further benefit when the Subiaco Redevelopment Authority completed the final part of the project, which included the TAFE Station Street and Australian Fine China sites.