The transformation of Riverside in East Perth took another step forward today as the vision for the six-hectare Waterbank precinct was unveiled.
Planning Minister John Day said State Government investment of $87million for site preparation works and construction of the public realm has helped to secure $1billion of private investment from development partner Lendlease.
“The first development applications for the nine-lot precinct were lodged this week which includes a mix of residential, commercial and retail space as well as a public beach, boardwalks, food and beverage outlets, parkland areas, public art and BBQ and picnic facilities,” Minister Day said.
“Extensive foreshore remediation works has paved the way for a new public open space to be created right on the water’s edge giving the eastern side of our city more opportunities to enjoy to the beautiful Swan River.”
“Valued at more than $110million, the first building is a 32-storey residential tower including 269 apartments and town house dwellings, with food and beverage outlets at the ground floor overlooking the Swan River.”
Plans submitted by Lendlease also include a temporary sales and information centre which will be on site to facilitate sales of the apartments.
The Minister said the precinct is expected to generate 450 jobs during construction, as well as providing for up to 1,000 residential dwellings, 35,500sqm of commercial and retail space and a range of community facilities.
“Substantial State Government funding is being invested into redevelopment of the city’s eastern peninsula including the 40-hectare Riverside project being delivered by the Metropolitan Redevelopment Authority and development of the Perth Stadium, Swan River Pedestrian Bridge and associated public transport infrastructure.”
“It is all part of a coordinated plan to create new inner-city communities where people want to live, work and recreate and accommodate for Perth’s population forecast of 3.5million people by 2050,” the Minister said.
The first development application for Waterbank will be advertised for public comment in the coming weeks, with construction expected to commence in mid-2016.