Darwin Waterfront Corporation unveils massive, unfunded redevelopment | NT Independent

Darwin Waterfront Corporation unveils massive, unfunded redevelopment

by | Feb 16, 2022 | Business | 0 comments

The Darwin Waterfront Corporation has unveiled plans for its “game-changer”, unfunded $200 million development proposal, in hopes the Commonwealth will fund it, citing the NT’s population as one of the issues to address.

A surf park, tropical snorkeling lagoon, pools, and playgrounds have all been earmarked under the expansion proposal which will focus mostly on the Central Precinct.

Darwin Waterfront general manager Sam Burke told Mix104.9 on Tuesday that they’ve been working on the redevelopment for several years.

“This isn’t, you know, just a concept drawing that we’ve put out there. There are a years of detailed design that has gone into this,” Mr Burke said.

He said they’re keen to get early-contractor involvement this year, if funding is secured. But that appears to be a big ask.

He also believes construction will commence this 2022, but without a clear timeline on the budget approval.

“We’ve got a great precinct here that’s under-developed. Let’s build on that and truly create something iconic,” he said.

The waterfront is broken up into three parts Central, Northern and Southern Precincts.

Mr Burke said redevelopment will focus on the Central Precinct.

“Then northern and southern; northern is above the convention center right around basically the beginning of Francis Bay and southern is down towards the old luxury hotel site.”

“Our view will redevelop central using government funding primarily that will spur on private development in both those other precincts, and we estimate those other precincts are well over a billion dollars-worth of private investment.”

Mr Burke said the $200 million is the ask of the Commonwealth as part of city deal and the project is with them.

“That $200 million is a game changer for Darwin,” he said.

“That’s going to get you an international standard, fully functioning surf park facility that will also get you what we think is probably a world first, which is a full tropical lagoon.”

“We add on top of that over 4,000 square meters of new swimming pools temperature controlled, food and beverage outlets around cocktails in your hand, new food and beverage facilities, a massive new playground just to start the precinct off.”

Mr Burke said they have private sector investors lined up and are “ready to go with plans around bolt on.”

However, he admits that while commercial real estate developers are keen to get involved in the project, they’re still waiting for the Commonwealth’s green light.

He said the biggest issue for Darwin is population.

“Growing the North from a population perspective is key. And we see lifestyle as one of the key drivers,” Mr Burke said.

He said the NT Government is taking the lead on the funding discussions with the Commonwealth, which has been ongoing for at least a year now.

“We’re very confident that we’ve provided everything in terms of both the project and the economic benefits that they would need.”

 

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