Perth’s eastern entry will be reinvented over the next decade to become an integrated urban village for 5,000 new residents and workers following today’s release of the Riverside Masterplan.
Planning and Infrastructure Minister Alannah MacTiernan said the Riverside project would transform the 40 hectare area between the Swan River and the central business district (CBD) into a bustling, mixed-use community.
“Riverside is an important part of the project to populate Perth, strengthening the viability of the CBD and taking advantage of the tremendous waterfront and existing infrastructure,” she said.
“It will also help build diversity in Perth – providing more opportunities for those who want the urban lifestyle.
“We are becoming a big city and need to face the realities that come with that, producing options to match people’s changing lifestyles.
“Riverside will deliver a stylish, high impact entry statement to the CBD with landmark buildings and high quality open space to capitalise on its riverfront location.”
The project will be delivered by the East Perth Redevelopment Authority (EPRA) and is expected to take place over 10 to 15 years.
It will have a particular focus on community diversity and the ‘live/work’ principles of sustainability, with a variety of housing types and an emphasis on using public transport.
The variety of housing types will also include a commitment to social and affordable housing, to be delivered through the implementation of EPRA’s Housing Diversity Policy.
“Ten to 15 percent of housing in the project area will be dedicated to social and affordable housing which will be delivered through private, public and not-for-profit sectors,” she said.
“EPRA’s Housing Diversity Policy is delivered through a very modern approach – gone are the days where high rise apartment blocks are constructed to meet social housing quotas,” said Ms MacTiernan.
“Riverside will become a vibrant residential community with a focus on people and their interaction with the Swan River and CBD.
“It will see Hay Street extended at its eastern end, down to the Swan River foreshore while a new river inlet will provide the perfect setting for cafés, restaurants and retail outlets,” she said.
High-quality street scaping will transform major roads into leafy avenues with an emphasis on shared use with pedestrians and cyclists.
Adelaide Terrace will be reinstated as the major entry into the City and Hay Street, adjoining Queen’s Gardens, will be calmed and have embayed parking.
The former Metrobus Depot on Adelaide Terrace will be the first stage to be developed with subdivision works planned to start this year. It was successfully remediated and decontaminated in 2003.
Street-level commercial and hospitality tenancies will be part of most residential neighbourhoods, delivering the ‘buzz’ of urban life and providing services and employment for local residents and workers.
The Riverside project will be self-funded by EPRA and at its conclusion will deliver an estimated surplus of $20million.
The redevelopment of land, new roads and public spaces by EPRA will cost approximately $103million over the life of the project and is expected to generate flow on investment from the private sector in the order of $750million.
Ms MacTiernan also said the Riverside plan did not require the Trotting Association to move.
“We are happy to see them stay for as long as they want - it provides a different recreational opportunity,” she said.
“But, from time to time, they contemplate redevelopment and we want to make sure that we have a plan which ensures that can be done in a way that integrates with the overall development.”
EPRA finalised the Riverside Masterplan following a three-month community and stakeholder consultation period around the release of a draft Masterplan in July 2002.
240 written submissions were received as part of the consultation process and a custom-built website generated 141,000 enquiries.