Pier to re­lieve pres­sure

Western Suburbs Weekly - - Residential: Industry News -

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 20storey project will pro­vide 146 apart­ments and 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.

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,” Mr Tin­ley said.

An artist’s im­pres­sion of the new Pier Street project.

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