The City of Greater Geraldton has been in negotiations with the developers of Geraldton’s iconic Town Towers building and works have now commenced.
The application proposes the refurbishment of the existing building to include a mixed use development, consisting of commercial and retail components as well as 40 serviced apartments.
The City has been in talks with property developers for quite some time to ensure the best outcome for the building.
City of Greater Geraldton Mayor Shane Van Styn said in-depth discussions had been taking place to ensure the best result.
“Negotiations on rates concessions and incentives have been concluded and all parties have agreed on an outcome that will see Town Towers redeveloped,” he said.
“I extend my praise to the developers on this project who have worked tirelessly on the progression of this development and the works, and on behalf of the City we are very grateful for their investment.”
Built in the 1970s, Town Towers was occupied by tenants until 2008. Since then, it has been empty and under much scrutiny due to crime and vandalism.
“The development of Town Towers has been a big talking point for quite some time as the building holds such significance in our community due to its prominence in our CBD,” Mayor Van Styn said.
“We know the potential this building holds and that’s why we have been working so closely with developers to get this over the line.
“This is a great and very significant indicator of the up-turn in our economy and it means great things for Greater Geraldton’s future.”
Project Manager, Grant Pitman, said the positive growth in Geraldton was a big factor in moving forward with the development.
“We’re extremely excited about the development of Geraldton’s Town Towers and we know the potential this holds for the city,” he said.
“This has been a prolonged process, and a tough project to get off the ground, but it was the proactive approach of the Council and the willingness to work right alongside us that helped us get the project going.
“We see a very strong future for Geraldton and we believe this development will only help grow that.”
A recommendation to grant a rates concession for the building was passed by Council and Mayor Van Styn said the project would mean positive outcomes for the City’s vibrancy.
“This development fits in perfectly with our City Centre Revitalisation Plan,” he said.
“We have a new vision for our CBD and we will be engaging and working with even more key industry stakeholders, developers and investors to help enhance the vibrancy of our CDB.
“Revitalisation in our City centre has been a top priority for us and we have already progressed our Foreshore with the finalisation of the West End Revitalisation Project and the progression of Town Towers is the next phase in our bigger plan.”
Updates on construction works and announcements on road closures will be released in the coming weeks.
