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New riverside hub for Perth
Perth will get its own waterfront playground set to rival the likes of Melbourne's Docklands and Cockle Bay Wharf in Sydney as part of a State Government plan to redevelop land near the East Perth Causeway.
The newly named Riverside development will be home to 5000 residents and 1000 workers and is expected to earn the State Government $25 million from land sales.
Under plans unveiled by Planning and Infrastructure Minister Alannah MacTiernan yesterday, the under-used riverside land will be revitalised with a mixed-use redevelopment to include taverns, restaurants, offices, apartments and specialty shops.
With its catchy "bringing a whole new side to Perth" slogan, the 10-year project's first phase - called the Queens Precinct - will see the old Metrobus depot next to the WACA Ground turned into a residential neighbourhood.
Buildings would range from three storeys on Hay Street to 12 storeys along Adelaide Terrace and include about 10 per cent State housing.
This first land release, to be launched from today, is expected to attract a lot of interest from interstate investors. As part of the 40ha redevelopment, formerly called Gateway, the State will invest $100 million, which is expected to generate a further $700 million from private investors.
Ms MacTiernan said the project, under the control of the East Perth Redevelopment Authority, would bring life into the central business district and reconnect Perth to its foreshore. It would rid Perth of its "dullsville" tag by putting "magic" back into the city.
WA Trotting Association chief executive Rob Bovell said the WATA was still negotiating with the Government and EPRA on the future of Gloucester Park.
A few issues remained but he hoped an agreement could be reached which would see the home of harness racing as part of the plans and remain where it was.
Plans will include a light rail or tram link running from the western end of Subiaco to the new waterside development.
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