Perth urban renewal project reaches milestone
With Perth boasting one of the tightest commercial property markets in the nation, investors looking for retail or office property may be interested in the Cockburn coastal urban redevelopment.
As part of the project, 140 hectares of former industrial zoned land is being transformed into a thriving community with retail and residential real estate opportunities.
Announcing the release of local structure plans for the Robb Jetty and Hilltop precincts, state planning minister John Day said the project is one step closer to getting off the ground.
"This significant state government regeneration project has been progressed in the last four years by LandCorp; the cities of Cockburn and Fremantle; and the Department of Planning, and will take about 15-20 years to fully develop," Mr Day remarked.
"Community involvement at this early stage of planning will help decide the mix of commercial, residential and recreational activities planned for the new community of 10,000 people."
Located five kilometres south of Fremantle, Cockburn coastal will connect South Beach to the Port Coogee estate - revitalising the area with major housing and business developments.
New areas of public open space and community areas will also be included in the project, something which is likely to be looked upon favourably by residential property investors.