A DEVELOPER’S $120 million offer to get rail to Yanchep has received City of Wanneroo support as the campaign for a commitment from the State Government continues.
The Yanchep Beach Joint Venture offer comes with a condition however that stations will not be built in Alkimos and Eglinton for at least five years.
In a May 19 letter to the City, YBJV chief executive Gin Wah Ang said the developer had put its business case to the Public Transport Authority in September 2013.
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READ NOW“YBJV has been working to develop a proposal suitable to State and Commonwealth governments since 2011,” he said.
“To bring rail to Yanchep by 2020, YBJV submitted a detailed ‘without prejudice’ offer to the State Government (in 2013).
“At the heart of YBJV’s original proposal to the State is approximately a $120 million cash and in kind offer.
“This proposal will see YBJV deliver an undergrounded Yanchep station and a range of supporting infrastructure.
“The offer is made conditional on there being no intervening stations between Butler and Yanchep for a minimum of five years.
“Without intervening stations, the Yanchep project will have the best chance to deliver strong economic development and employment outcomes.”
Mr Ang said there had been substantial progress since they made the offerbut “there is still no firm commitment from government in relation to funding and timing”.
Mr Ang said while they hoped the City would support their proposal through its advocacy plans, YBJV also recognised benefits to another option that would see major landowners in the north coast corridor collectively fund a third of the rail project.
That option arose from a May 13 meeting organised by the City with representatives from YBJV, LandCorp, Eglinton Estates, Peet Alkimos and the Transport Department at the Urban Development Institute of Australia.
A joint letter from the Alkimos and Eglinton landowners to the City on May 20 proposed a joint investigation into “an innovative public-private value capture model” to fund the 14km rail extension from Butler to Yanchep.
“The accelerated delivery of rail through to Yanchep including stations at Alkimos, Eglinton and Yanchep could ensure the development of vital and viable centres in line with the optimum residential and employment densities envisioned by the WA Planning Commission’s Perth and Peel @ 3.5 million framework plan,” the letter said.
“With early delivery of this railway extension, it is possible that a greater diversity of housing choice could be delivered.
“If however the delivery of this railway extension is significantly delayed, the undersigned landowners consider that this delay may result in a ‘business as usual’ lower density suburban roll-out and sub-optimal employment outcomes.”
The letter asked the City to facilitate a meeting with Transport Minister Dean Nalder to present the funding model, which could seek one-third funding each from the State Government, Federal Government and private landowners.
It said the project could cost up to $500 million.
A late report to the Wanneroo council on May 24 recommended support for YBJV’s proposal because it was “the only financial offer provided” at this point in time.
It also encouraged landowners to continue to work together on a fair share of costs for the rail extension and stations.
The report said population projections showed at least 95,000 people would live in the corridor from Tamala Park to Two Rocks by 2020, increasing to 150,000 by 2031.
It said the Federal Government’s Smart Cities Plan, launched this year contained ‘city deals’ that encouraged partnerships between government and private sectors to provide better infrastructure sooner.
“This plan in turn has generated interest within the landowner group at Yanchep and Alkimos-Eglinton and has created an opportunity for the YBJV to represent to government a business case for the extension of the rail to Yanchep,” it said.
“The landowner group has established a strong interest to work together to facilitate the early provision of rail to Yanchep through the development of a value capture model.
“The landowner group agreed they would explore a funding model based on a broad principle of the estimated cost of the rail extension being share one third by the State Government, one third by the Federal Government and one third by the landowner group (based on a fair and equitable sharing of costs.”
UPDATE: Yanchep rail comes to fore with looming federal election