The 40-hectare Riverside project presents a unique and exciting investment opportunity in Perth. With continued strong population growth, low vacancy rates, high demand and an increasing trend towards inner-urban living, the Riverside project will transform the way we live and work in the city.
Riverside will attract up to 7,000 new residents and 6,000 new employees. It is expected to involve approximately $94 million state government investment and approximately $2 billion from the private sector to deliver a mix of residential, commercial and public domains to capitalise on the unique setting.
Development in the Queens precinct, the first stage of the project, is well underway with the $450million Queens Riverside development by Frasers Property Australia, a new urban quarter combining apartments and townhouses and commercial space with a new retail precinct, dining experiences and public open places. Fraser Suites Perth, a 236-suite luxury hotel was completed in October 2012 and will sit alongside QIII, a 26-storey residential tower featuring 265 apartments, currently under construction.
The MRA has commenced works at the Waterbank site with construction expected to commence by preferred proponent Lend Lease in 2014. This waterfront site offers scale, diversity and a flagship location. By incorporating innovative design and world-class architecture, the Waterbank Precinct will become a major visitor destination.
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