Thousands more Western Australians are set to call the city centre home following the announcement of new residential development incentives from the City of Perth.
Thousands more Western Australians are set to call the city centre home following the announcement of new residential development incentives from the City of Perth.
The new incentives support the City's ambitious Strategic Community Plan 2022-2023, and its recently adopted Local Planning Strategy, which have set population targets of more than 55,000 residents by 2036, increasing to 90,000 residents by 2050.
City of Perth Lord Mayor Basil Zempilas said the incentives focus on the Central Perth Neighbourhood due to the area's potential to deliver high impact benefits that will sustain the city into the future.
"Putting thousands of new residents on the doorstep of the City's central facilities, businesses, and main attractions unlocks a wealth of opportunities," he said.
"From the viability and growth of existing and new businesses, to streetscaping, greening and making our city a safer and more enjoyable place to live, work and play, increasing opportunities for city living goes to the heart of community aspirations for a thriving and vibrant capital city."
The City of Perth is establishing incentives for residential developers and buyers to accelerate student housing, build-to-rent and build-to-sell development opportunities in the inner city.
"The City of Perth is leading the way on putting Perth first with developers, investors and buyers through a range of rates and fee incentives," Mr Zempilas said.
"From 1 July 2023 through to 30 June 2030, buyers of new properties approved after 1 July 2023 can access an enticing 50 percent reimbursement on residential rates across three consecutive years, which is an estimated annual saving of nearly $1,000.
"The City is also turbo-charging development by waiving all City fees for relevant new residential development applications, as well as the City's fee component for Building and Occupancy permits.
"As an example, for a 30 plus storey, $30 plus million development, this has the potential to collectively deliver over $400,000 in savings for the developer and future residents."
The City has also established strong advocacy positions on a range of long-term opportunities that require actioning at Federal and State level.
"In listening to stakeholders, we have identified existing opportunities for land and property tax incentives, as well as ways to streamline development approval processes and amend eligibility requirements for related development funds, and home owner or rental schemes," Mr Zempilas said.
"We're also promoting the City with a $200,000 multi-year city living campaign that will showcase everything that Perth has to offer as one of the most liveable cities in the world.
"For all developers and buyers out there, this is your chance to get in on the ground floor as we open up a new era of liveability, sustainability and prosperity for the City."
Information on the roll-out of the city living initiatives is available at https://perth.wa.gov.au/unlockingcityliving.
