DEVELOPERS have received a two-year extension to start building a $15 million, 50-unit apartment block in Mindarie.
The Metro North-West Development Assessment Panel recently approved TPG Town Planning’s application on behalf of Mindarie Management, which owns the 3908sq m site on Alexandria Drive.
The panel originally approved the M/30 development in August 2016, with a condition that construction substantially start within two years.
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However, in February the developers applied through the City of Wanneroo to extend the period as market conditions have meant they have not secured enough pre-sales.
“The developers have constructed a sales office and undertaken an extensive marketing campaign and secured a number of pre-sales, but not sufficient to commence construction,” a report to the panel said.
In a teleconference meeting on April 20, the five-member panel unanimously agreed to extend the approval period to August 2020.
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