The project development agreement (PDA) with the Metropolitan Redevelopment Authority (MRA) follows Lend Lease’s selection in November 2011 as the preferred developer of the urban regeneration project.
Waterbank is a key urban regeneration precinct within the state government’s Riverside project situated on a 6ha site on the banks of the Swan River. The proposals include over 600 residential apartments, commercial office space, a hotel, a variety of retail uses and substantial public spaces.
Lend Lease group chief executive officer and managing director Steve McCann said: “We are delighted to have finalised an agreement with the MRA to deliver this project. “Lend Lease has significant experience in major waterfront and urban regeneration projects, both within Australia and overseas and we will leverage this expertise to deliver a world class solution for the people of Perth.”;
With the PDA now in place, Lend Lease will work closely with the MRA in the design and planning for the project ahead of the expected start of construction in 2014, with completion expected in 2021.
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