[SWP] Festival Centre office tower | 108m | 27 Levels | Office

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SRW
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[SWP] Re: Festival Centre office tower | 108m | 27 Levels | Office

#91 Post by SRW » Tue Jun 18, 2019 5:20 pm

Ben wrote:
Tue Jun 18, 2019 4:25 pm
This was hidden in today's budget announcement. What could possibly cost this amount of money unless they are funding the office build as well or building a new Festival centre?
No, part of the state's agreement with Walker Corp was that we'd spend $180 million on the plaza's (and Station Rd) public realm with only a $40 million contribution from Walker Corp. IIRC, that's in addition to the state's $90 million repairs and upgrade to the Festival Centre, northern promenade and new railway station plaza/casino entrance. It always seemed like a dud deal to me, because although Walker Corp is contributing $40 million to the public realm and paying for the carpark, they still got grade-A free land for a 27 storey tower (which is more than double the height of what was initially permitted). For the privilege they should've been fully paying for the plaza.
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