The McGowan Government has approved the business case for its Subi East redevelopment and committed $227 million to transform the oval precinct into Perth's newest inner-city hub.
The 34-hectare redevelopment will be split across two key areas - around the retained Subiaco Oval playing surface and at the former Princess Margaret Hospital site.
In approving the Subi East business case, the McGowan Government has also committed a further $193 million towards the project, on top of the $34 million already committed for Subiaco Oval's demolition.
This funding will go towards preparing the Subi East site for an expected $1 billion worth of private investment over the life of the project, helping to boost the local economy.
In the coming years, the redevelopment project will deliver more than 2,000 new dwellings around the Subiaco Oval and PMH precincts - close to public transport, in line with the McGowan Government's METRONET policy.
It will also create 2,700 jobs during construction and support 650 new jobs in Subiaco once Subi East is fully built out and occupied.
The funding decision will provide for the acquisition of all Government lands to LandCorp, ensuring a mix of diverse and affordable housing across the project area and demolition of the former Princess Margaret Hospital site.
Demolition of the former PMH site is expected to commence by the end of 2021, dependent on project requirements and further site investigations.
Around 18 months of consultation with the community and other stakeholders has been undertaken so far, including more than 1,500 responses to an independent survey in July 2018 and more than 500 responses to the vision concept released in February 2019.
Master planning will now commence and provide further opportunities for community consultation, which will focus on the urban design of the site including cultural and heritage elements, landscape design and public realm.
Most of the Subiaco Oval demolition works will be completed in time for the opening of Bob Hawke College in February 2020.
More than 100,000 tonnes of concrete and other materials will be removed during demolition, with up to 95 per cent to be recovered for reuse in constructions such as road base.
As stated by Premier Mark McGowan:
"Perth needs these kinds of projects that breathe new life into existing areas, attract more people to visit and create thousands of local jobs.
"Around 2,700 jobs will be created during construction alone, while a further 650 will be supported once the new precinct is built out.
"Subiaco has always been a great place to work, live and visit - the addition of Subi East and Bob Hawke College will build on this success to ensure generations enjoy it for years to come."
As stated by Planning Minister Rita Saffioti:
"Approval of this business case and funding is a landmark decision that further demonstrates the McGowan Government's commitment to urban renewal, economic development and job creation.
"The focus can progress towards master planning, and we look forward to seeing this vibrant, connected new community take shape on the doorstep of the Perth CBD.
"Subi East will deliver quality new public assets and community spaces, including unlocking Subi Oval for shared community use and the creation of an exciting new precinct that will leverage existing public transport infrastructure.
"The demolition at Subiaco Oval is one of the biggest projects of its type to be undertaken in Western Australia, and we are committed to recycling and reusing 95 per cent of the materials and putting these to work in new infrastructure projects across the State."
