THE West Australian Government yesterday announced the selection of Mirvac as the preferred proponent to develop the $1.5 billion Karratha City of the North project.
The project will see the development of multiple city centre sites and the creation of more than 1,500 dwellings at the new coastal suburb of Mulataga.
Premier and State Development Minister Colin Barnett said Mirvac would work with State Government agencies to dramatically change the face of Karratha and help develop it into a city of 50,000 people.
"This visionary project is an unprecedented investment in a regional Western Australian town and I commend Mirvac for demonstrating the innovation and creativity we have been looking for," Mr Barnett said.
"This constitutes a $1.5billion investment partnership between the State Government through Royalties for Regions, LandCorp and the private sector."
The State Government is contributing $130 million from Royalties for Regions towards the development of new roads, infrastructure upgrades, public amenities and additional service worker accommodation in the Karratha city centre.
"The work to develop Karratha into a City of the North started two years ago with the launch of the Pilbara Cities vision in November 2009," said Regional Development and Lands Minister Brendon Mr Grylls.
The Minister said LandCorp would begin work with Mirvac on a development agreement.
Stage one of the project involves relocation of the swimming pool and the development of a new 150-room hotel, 10,000 square metres of commercial space, hospitality and entertainment venues and a landscaped public square.
The first stage of the city centre project is expected to be completed mid-2014.
The 160-hectare development of a new suburb at Mulataga, which will link Karratha to the coast, will provide more than 1,500 dwellings, public open space and community facilities.
Planning will commence immediately and civil construction is expected to commence early 2013. Coastal residential land is expected to be released early in 2014.