The WA Government will transform the existing Ocean Reef Boat Harbour into a world-class waterfront precinct, creating hundreds of jobs in the northern suburbs.
Delivering on an election commitment to kick-start the development, the McGowan Government has committed $120 million over the life of the project and will see the long-awaited transformation finally get underway.
Premier Mark McGowan said, “Ocean Reef Marina represents a rare opportunity to transform existing facilities into a world-class tourism and recreational facility, providing a major boost to jobs in the northern suburbs.
“It’s expected the new precinct will also have about 1,000 new dwellings, ensuring the area will be full of activity once fully developed.”
The new Ocean Reef Marina will be developed into a thriving hub for tourism, jobs and new diverse housing options, including apartments, retail and commercial developments.
The State Government’s LandCorp will lead the development, working with the City of Joondalup to deliver the project, including the finalisation of all planning requirements and an environment review.
According to the WA government’s press statement, the funding will also allow for forward works to start, opening the door to future private sector investment expected to be worth more than $500 million.
It also said that the business case will include maximising value capture opportunities through the development of State Government land assets and maximising private sector participation.
Federal Government funding will also be sought for the project in an effort to bring forward delivery and additional State Government funding will be allocated as part of subsequent budgets.
The State Government will work with the City of Joondalup, the Ocean Reef Sea Sports Club and the Whitfords Volunteer Sea Rescue to determine what relocation needs are required.
It is anticipated construction of the precinct will start in 2020.