Perth City Deal to unleash CBD transformation
The $1.5 billion Perth City Deal involving the Commonwealth and WA governments and the Perth City Council will unleash a transformation of the Perth CBD which will help to attract new investment and businesses.
Property Council WA Executive Director Sandra Brewer said the agreement, which outlines eleven projects and initiatives to activate Perth over the short to medium term, would give Perth a competitive edge in attracting new investment in a post-COVID environment.
“The Property Council and its members have been longstanding champions for a Perth City Deal,” Ms Brewer said.
“Property Council WA has worked closely with key decision makers in government, business and industry over several years to achieve a Perth City Deal which supports a CBD that is vibrant, attractive and one that all Western Australians feel they can own.
“We congratulate the Morrison Government, McGowan Government and City of Perth for creating a vision that captures the ideas industry has been putting forward.”
Ms Brewer said the expansion of three universities into the CBD would create a centre of higher education excellence as well as bring a new vibrancy to the CBD with flow-on benefits for businesses.
“The prospect of 9,200 students in the CBD from 2025, growing to 25,000 over time, provides a rare opportunity to meet the City of Perth’s population targets of 90,000 residents by 2050, as many of those students will choose to live nearby,” Ms Brewer said.
“While we have called for a more ambitious City Deal that covered more of metropolitan Perth, today’s announcement unlocks a range of opportunities for new housing, office and entertainment developments that will reignite our CBD and drive growth.
“City retailers and businesses should feel energised about the future and the vision being created for a dynamic and inviting CBD,” Ms Brewer explained.
“We’re pleased that a significant proportion of City Deal funding will go to fixing some of the challenges with CBD transport, such as poor pedestrian access, incomplete bike paths and wayfinding – all helping to create a more people-friendly city,” Ms Brewer said.
Additionally, the agreement’s focus on social infrastructure, including better homelessness assistance, safety, innovation and cultural investments are vital ingredients for a thriving city.
The City Deal will also build on the potential of investments in Yagan Square and Elizabeth Quay which have greatly added to the amenity of the city.
Today’s announcement comes as City of Perth voters prepare to receive ballots for October’s extraordinary Council election, starting from Monday.
“At a time where candidates vying to be the next Lord Mayor of Perth are pitching their ideas to address homelessness, attract a higher residential population and deliver vibrancy, this announcement will go a long way to supporting those priorities,” Ms Brewer said.
“The Perth City Deal is a game changer and we call on all Lord Mayoral and Council candidates to get behind it and bring their ideas and energy to delivering on its great potential to create a dynamic and prosperous city for the future.” Ms Brewer concluded.
Nick Warland | (08) 9426 1203 | NWarland@propertycouncil.com.au
- Property Council of Australia has been the leading advocate for City Deal partnerships across Australia.
- The Perth City Deal is the latest in a range of city shaping agreements signed by all levels of government and the private sector in Western Sydney, Adelaide Hobart, Darwin, Geelong, Townsville and Launceston.
- Property Council WA commissioned research by urban planning and economics firm Urbis in February 2020 titled ‘Project90K.’ This examined what a Perth City Deal should include and the needs of a residential population of 90,000 by 2050.