WORKS ahead of the redevelopment of Belmont Park will include upgrades to Graham Farmer Freeway off-ramps and a new traffic bridge connecting the precinct to Victoria Park Drive.
Siteworks began last week as part of an 18-month plan to build new roads and footpaths required for the population boom coming to the land surrounding the peninsular racecourse.
Developer Golden Group intends to submit plans for the first residential towers by the end of summer.
“We are planning to lodge development approvals for the first two towers, 470 units, in the next month or two,” managing director Andrew Sugiaputra said.
If all goes to plan, the 26- and 31-storey towers could be built within three years.
But the first buildings are only a fraction of the $3.8 billion masterplan that is considered the biggest property redevelopment in WA.
Golden Group claims its Belmont Park plan will “revolutionise” inner city living, with a longer term aim to build a high-rise precinct with up to 4500 residential apartments, plus office and retail space.
The area’s structure plan allow for towers to reach as high as 53 storeys.
Initial landscaping works alone will cost $5.5 million and include a manmade beach, boardwalks, an amphitheatre and other upgrades to the foreshore.
Mr Sugiaputra likened the first phase to the way Elizabeth Quay was developed. He said roads, infrastructure and public amenities would be complete before work started on the towers.
“You’ll have six super lots all subdivided, all major infrastructure, roads, water, telecommunications, parks, foreshore, jetty will be all part of stage one, along with Perth Racing’s brand new horse stalls to the western part of the current grandstand,” he said.
He hoped the first stage of works would create a more attractive outlook for people walking between Optus Stadium and the city.
The apartments will be marketed towards families, downsizers and young couples interested in an inner city lifestyle with open space and facilities at their doorstep.
“Golden Group is leading the way with this type of revolutionised inner-city development,” Mr Sugiaputra said.
“It will be a curated and obtainable community with a targeted 5-star Green Star Communities rating.”