The $1.5 billion Perth City Deal has been finalised and is set to create almost 10,000 jobs along with hundreds of millions of dollars for new construction projects.
The deal aims to re-energise Perth and bring government and private investment into the CBD while encouraging more people back into the city.
The Perth City Deal includes a $695 million investment from the Federal and State governments, along with Edith Cowan University, to move its law and business schools and the WA Academy of Performing Arts into the Perth CBD, creating the state’s first inner-city university campus.
A further $360 million investment from the State Government, Curtin University and Murdoch University will be used to expand or establish new presences in the Perth CBD. Murdoch University will create a vertical campus and eSports Stadium linked with Singapore and East Asia, while Curtin University will build a CBD knowledge and innovation precinct.
$105 million has been allocated to the Perth CBD Transport Plan to upgrade cycling and walking infrastructure, bus stop accessibility upgrades and enhance Roe Street. The centrepiece of this plan is the new Swan River Causeway Bridge.
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A $20 million investment into the Perth Cultural Centre precinct will be used to improve lighting, security, wayfinding and the development of a longer-term vision for the space.
$42 million will be invested to develop the Perth Concert Hall into a world-class music venue while up to $100 million will be spent to redevelop the WACA and transform it into an advanced sporting facility including an inner-city swimming pool.
The East Perth Power Station will receive $20 million to upgrade necessary infrastructure and improve connectivity to the site and surrounded areas.
$10 million will go towards a WA Indigenous Business and Employment Hub in partnership with the Wirrpanda Foundation to provide support and advice to Indigenous businesses, job seekers and entrepreneurs.
The plan is expected to bring more than 25,000 students and staff into the city, with construction of the campuses to bring more than $1 billion worth of investment into Perth’s CBD.
Prime Minister Scott Morrison said Perth would benefit for generations to come from the game-changing investment in education, culture, jobs and lifestyle.
“This is a JobMaker investment which will generate employment for thousands of hard-working West Australians, it will boost those businesses that are already in the CBD and it will drive new businesses to open,” Morrison said.
“WA, like the rest of Australia, needs a targeted economic stimulus which will provide a boost now and into the future, and this is what we’re delivering.”
Premier Mark McGowan said the Perth City Deal will see more than $1.5 billion worth of investment into the Perth CBD unlocking thousands of local jobs and creating flow on economic benefits for small businesses.
“This City Deal has given us the unique opportunity to collaborate with the Commonwealth Government, universities and local businesses to help re-energise our capital city,” he said.
“We have worked to establish up to three university campuses in our CBD which will create up to 5000 direct and indirect jobs while re-energising Perth.
“This will have positive flow on effects for small businesses including retail, restaurants and bars while returning vibrancy to our capital city.”
Finance Minister Mathias Cormann said City Deals are the Federal Government’s proactive approach to help develop our cities and regions.
“The opportunity is to bring all levels of government together as well as the private sector and the community to provide a coordinated investment plan for Perth,” he said.
“We have negotiated an ambitious City Deal that unlocks Perth’s incredible future potential while continuing to develop it into a vibrant, exciting and liveable capital city.”
Western Australian Transport and Planning Minister Rita Saffioti said the City Deal aligns with the State Government’s key objective to connect, activate and future proof Perth’s communities.
“The Perth City Deal is creating exciting new opportunities in the planning and transport spaces while also re-energising our capital city,” she said.
“The Perth CBD Transport Plan will feed into METRONET, closing gaps on the shared path network while encouraging people to embrace new modes of transport.
“The new university campuses highlight what density can achieve and the positive effect it can have on creating well planned and vibrant communities.