Perth’s neglected Ocean Reef will be transformed into a “world-class waterfront precinct,” after the state government committed $120 million to the mixed-used project on Sunday 3 September.
Long mooted for redevelopment, the marina became a much-discussed issue during the Western Australian election in January, with both major parties promising to kick-start the project.
Before the election, then-opposition leader Mark McGowan pledged $40 million to the project, which was to be a “thriving hub” for tourism, jobs and diverse housing options.
“The McGowan government has tripled our pre-election commitment to $120 million, which shows just how serious we are about getting this project done,” said Lands Minister Rita Saffioti on Sunday. “This will eventually become an iconic, must-see destination for Perth and will prove an asset for locals, visitors and recreational boaters alike.”
With initial concept plans developed by urban planners Taylor Burrell Barnett, the mixed-use precinct will include around 1,000 dwellings, including apartments and single lots, as well as hotels, boardwalks, community facilities and retail offerings.
There will also be around 550 boat pens, additional boat stackers and associated trailer parking.
State government’s development agency LandCorp will lead the development, which is working with the City of Joondalup to finalize all planning requirements and an environment review.
Joondalup Mayor Troy Pickard said the announcement was the culmination of more than 10 years of work from the council.
“For over a decade the City has invested significant financial and human resources on the Ocean Reef Marina project, undertaking numerous studies, investigations, community consultation and the approvals required for its development,” Mayor Pickard said.
“We welcome the commitment of the state government, which will allow work on this world-class development to finally get underway.”
Discussions surrounding the Ocean Reef Marina development have been happening for around 30 years, with a preliminary structure plan developed in 1987 and multiple investigations, committees and community consolations conducted by the council since 2000.
A concept plan endorsed by the council was put forward for community consolation in 2009 and received 95.6 percent support from the almost 12,000 respondents.
According to the state government the allocation of $120 million will allow for forward works to start and open the door to future private sector investment expected to be worth more than $500 million.
The business case will include maximizing “value capture opportunities” through the development of state government land assets and maximizing private sector participation.
Federal government funding will also be sought for the project, while additional state government funding will be allocated as part of subsequent budgets.
It is anticipated construction of the precinct will start in 2020.