METRONET EAST REDEVELOPMENT AREA TO CREATE DIVERSITY AND MARKET CERTAINTY
The Property Council welcomes the announcement that the Midland, Bayswater and Forrestfield station precincts will be brought into a redevelopment area known as the METRONET East Redevelopment Area.
The Metropolitan Redevelopment Authority (MRA) will now begin the statutory process to extend the Midland Redevelopment Area to include the immediate areas around the Bayswater and Forrestfield train stations.
The Statutory process for Bayswater and Forrestfield is expected to take around 12 months, with Planning Control Areas in place in the interim, administered by the Western Australian Planning Commission, to ensure compatible development complements the infrastructure projects.
Consultation on this scheme amendment will take place in coming months, taking into account the cities of Bayswater, Kalamunda and Swan's planning work already completed.
The Property Council supports the creation of METRONET East, an initiative which will assist to maximise on development opportunities, provide market certainty and deliver diverse housing strategically located around transport nodes.
As identified in the Property Council's previous report METRONET Station Precincts - An industry perspective on making them happen, we encourage the State Government to consider extending the scope of METRONET precincts to the existing network and identify more key short and long-term development opportunities.
Maps of the proposed redevelopment areas can be found on the METRONET website.
To view the State Government's media release click here.