Late last year, the City of Greater Geraldton placed a notice of intent to demolish on the owners of Town Towers that required them to either refurbish the building, make it occupiable, or demolish it.
Since that time there have been ongoing negotiations between the City and the owners of Town Towers to try to reach an outcome that could see the building restored to its former glory.
City CEO, Ken Diehm, said the City has been in constant dialogue with the owners and they have been genuine in their desire to redevelop the building.
“For this reason I was comfortable to defer the notice to demolish,” he said.
Over the last week the owners of Town Towers, Mr Diehm and senior Council staff have had further negotiations and it appears that an outcome has been achieved.
“This week I met with the owners of Town Towers and have personally witnessed their financing agreements, plans, work schedule and proposed leasing agreement for serviced apartments.” Mr Diehm said.
“Having sighted these documents I am satisfied that there is a very real possibility that work can start on site as soon as July this year, and have agreed to suspend the notice to demolish.
“The development proposal provides for short term accommodation and a mix of retail uses on the ground floor, which I think will be great for maintaining and enhancing the vibrancy of our city centre,” said Mr. Diehm.
“I am pleased that we have had significant progress on this matter and that the developer has been willing to work with us to reach an acceptable outcome for our City.”