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.
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.