Government announces new apartment development in Perth CBD

Government announces new apartment development in Perth CBD

AFFORDABLE housing opportunities in the CBD are set to increase with the State Government announcing a new apartment development at lot 52 Pier Street.

The $45 million, 20-storey project will provide 146 apartments and supply new commercial space in the heart of Perth.

About 70 per cent of the residences will be available for private sale, 15 per cent for sale through the State Government’s shared equity program and the remaining 15 per cent allocated for social housing.

Pier Street is part of the government’s Metronet Social and Affordable Housing and Jobs Package, a major investment in housing aimed at building liveable and connected communities close to transport infrastructure.

The site is close to McIver train station and the Cultural Centre and Housing minister Peter Tinley said developments such as Pier Street were an important part of the government’s Affordable Housing Action Plan, which aimed to give West Australians better access to affordable housing close to where they work and play.

The project will also have an economic benefit.

“The overall development will support an estimated 200 construction jobs (both directly and indirectly), and potentially deliver an estimated $80 million financial stimulus to the state economy through its flow-on effects to other industries,” Mr Tinley said.

The government is partnering with Peet to deliver the project.

Peet was selected for its ability to help transform Perth’s housing market by delivering more affordable developments around key transit precincts and activity centres, with a focus on thoughtful density principles.

“The State Government has a strong history of working with Peet and other private developers to incorporate the latest innovations in design and construction into projects,” Mr Tinley said.

“Several such initiatives are proposed for the Pier Street project, including a car share service for residents and powered parking bays.”

Subject to approvals, construction at Pier Street will commence in October 2020, with completion expected in late 2022.