Fremantle development edging $1 billion

With $913 million in public and private investment in Fremantle, it’s undergoing the most significant changes for the area since the 1980s, according to the City of Fremantle statistics.

The investment in Fremantle is a direct result of amendments to the local town planning scheme, allowing for greater density within strategic areas, the council noted.

Fremantle mayor, Brad Pettitt, said that the last time this number of development applications lodged was during the America’s Cup in 1987.

Developments currently in the pipeline include 22,000 square metres of office space and 11,500 square metres of retail space, within the Kings Square Project. This will be within the next five years.

“It all revolves around bringing more people back into the heart of our city to live, work, shop and to be entertained,” Pettitt said.

The previous low levels of investor interest in Fremantle were addressed in an Economic Development Strategy in 2011. This outlined the targets for all potential development including new residential properties, new commercial office space and retail floor space within the CBD.

“There’s still a lot of work in front of us, but we now have the level of interest from investors that we require and plenty of projects under construction. I’m more confident than ever that Fremantle is on the cusp of a generational change which will produce the sort of high-quality sustainable infrastructure that our community needs and deserves.”  

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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